Nigerian Economy Grows by 7.68% in Q2

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Nigerian Economy Grows by 7.68% in Q2

Post  nex on Wed Jul 28, 2010 5:17 pm

Nigeria's economy grew by 7.68 percent in the second quarter, the central bank governor said on Wednesday, up from 6.68 percent the previous quarter.

"The economy has maintained a steady sustainable growth of 7.68 percent, especially in the non-oil sectors led by agriculture, retail trade, services and construction," Lamido Sanusi told reporters after a cabinet meeting. The central bank forecasts sub-Saharan Africa's second biggest economy to grow by 7.53 percent this year, up from 6.66 percent in 2009.

Sanusi gave a bright outlook for the OPEC member's economy, with moderate inflation and a stable foreign exchange market.

"The Nigerian economy remains resilient and the near to medium-term outlook is positive," he said.

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