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Action time for Nigeria's government

Nigeria’s government is pressing on with plans to liberalise key parts of the economy. The downstream is a priority

BY LOOSENING the state's grip on key levers, from the exchange rate to the oil industry, Muhammadu Buhari's adminis­tration wants to fire up Nigeria's economy. The economy shrank in real terms by 0.36% in the first quarter of 2016, as over-reliance on oil bit hard. The outlook is slightly better - the African Development Bank forecasts GDP for the year could grow by 3.8% - but neighbours Côte d'Ivo­ire, Ghana and Senegal are all doing better. The gravity of the situation has prompt­ed a search for sweeping remedies. State firm Nigerian National Petroleum Corpo­ration (NNPC) said in late June that it had signed provisional agreements worth some $80bn with more than 30 Chinese firms to upgra

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