Real GDP Growth Rate: Selected African Countries (%, y/y)

Nigeria highly vulnerable to commodity price shocks

Real GDP Growth Rate: Selected Net-Oil exporters (%, y/y)

How are net oil exporters fairing?

Real GDP Growth Rate- Nigeria and selected African Economies: While GDP growth in selected African economies have generally declined at different magnitudes with the slump in commodity prices, other economies have managed to stay out of recession with the exception of Nigeria. This is attributable, amongst other factors, to better diversification of revenue base in these economies, thus buttressing the impact commodity price shock.

Real GDP Growth Rate- Nigeria and selected Net-oil Exporting Economies: Net-oil exporting economies have been adversely affected by the slump in oil price, with Russia and Nigeria being severely impaired. However, while Russia appear to be on the road to recovery in 2016, the Nigerian economy has sharply decelerated in the period..