Recession Official. Zuckerberg's Investment Visit Official Too.

Economic Data Watch

After an unusually long delay, the National Bureau of Statistics (NBS) released 2nd Quarter (Q2) 2016 reports today.

Summary of Report

1) July 2016 Headline *Inflation*

17.1%. It increased from 16.5% in June.
This is the 6th consecutive monthly increase in inflation.

Major items responsible:
Imported goods and energy (electricity and fuels).

2) GDP (growth) declined by a whopping 2.06% year on year.

Higher than the decline of 0.36% in 1st Quarter, Q1 2016.

It increased 2.35% comparatively in Q2 2015.

We are now in a full recession. First in a very long time.

3) Value of Capital imported into Nigeria - Q2:  $647.1million. Provisional figure.

Reportedly the lowest in the past 10 years.

Caveat: Still a provisional figure.

4) Actual (average) price paid by Nigerians for Petrol - N147.67k.

Diesel: N206.50k


Message:
Brace up. Work hard. Pray without ceasing! 

Meanwhile Zuckerberg did not come to NG to see the bridge...

Hello! He came for investment opportunities...

Inside the same recession!

Wake up, learn, reach and earn!