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Energy

Nigeria says Q3 and Q4 GDP to reflect further economic slowdown -presidency

ABUJA, Aug 26 (Reuters) - Nigeria expects the third and fourth quarters to reflect the continued effects of a slowdown, after the economy contracted by 6.1% in the second quarter, the presidency said on Wednesday.

Nigeria, Africa’s largest economy and top oil producer, faces its worst crisis in four decades due to low crude prices, and the impact of the novel coronavirus pandemic, which hurt demand for its main export commodity. (Felix Onuah; Writing by Chijioke Ohuocha; Editing Alexis Akwagyiram and Alex Richardson)

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