The latest growth figures show that Nigeria's economy slipped into recession for the first time in more than 20 years. According to the usual definition of the recession, it is currently the second consecutive quarter of declining growth. It seems that the oil crisis and the collapses of prices are among the reasons. Furthermore, the country suffered from a series of rebel attacks on infrastructure, and also chronic power outages. Consequently, the authorities approved a three-year plan to borrow more money from abroad in order to fight inflation. A plan consisting of $10 billion from debt markets was mentioned added to a $1 billion Eurobond. Ultimately, Nigeria should provide guarantees to the potential investors, mainly through the focus on the fight against corruption and Boko Haram's Islamist insurgency.

Read more (BBC) >>
Read more (CNN) >>
Read more (Africa News) >>
Read more (Bloomberg) >>