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The 2023 Nigerian currency crisis was precipitated by a shortage of cash currency (the naira) and an attempt by the Nigerian government to force citizens to use a newly created government-sponsored central bank digital currency.
The Economic Community of West African States (ECOWAS) is a regional, political and economic union of fifteen countries in West Africa, covering an area of 5,114,162 km 2 (1,974,589 sq mi) and with an estimated population of over 387 million in 2019. Established in 1975, ECOWAS aims to achieve collective self-sufficiency for its member states ...
The base year for calculation (including information on the market structure) was updated from 1990 to 2010. [3] [2] This was a fairly huge increment in base year; for comparison, the 2010 Ghana GDP rebasing updated the base year from 1993 to 2006, [6] [7] and the 2015 India GDP rebasing updated the base year from 2004/05 to 2011/12.
Dozens of people in northern Nigeria were killed in a massive explosion as they tried to scoop up fuel from a crashed tanker truck. Fuel tanker truck explosion kills more than 140 people in ...
During the mid and late 1980's, Nigeria experienced a prolonged and severe economic downturn. Nigeria suffered a rapid plummet of its foreign reserves from $10 billion in early 1980s to approximately $1 billion in the mid 1980s due to overvalued currency, inflated imports, and international decline of oil prices. [ 4 ]
The economy of Nigeria is a middle-income, mixed economy and emerging market [27] [28] with expanding manufacturing, financial, service, communications, technology, and entertainment sectors. [ 29 ] [ 30 ] It is ranked as the 53rd-largest economy in the world in terms of nominal GDP , the fourth largest in Africa and the 27th-largest in terms ...
The 1929 crash came following a period of economic strength and technological progress. Cars and telephones were new inventions that gained widespread popularity and more working-class families ...
Indian economic crash of 1865 Panic of 1866 , was an international financial downturn that accompanied the failure of Overend, Gurney and Company in London Great depression of British agriculture (1873–1896)