Nigeria may go into recession.

The IMF says Nigerian economy, may go into recess, a combination of plunging oil revenues and weakened investor confidence will push it into recession according to IMF on Tuesday, it is expected that Africa’s largest economy will contract by 1.8 percent this year, after having been forecasted to expand by 2.3%.
In Nigeria Inflation has hit an 11-year high of 16.5 percent as at June, as prices of food and energy jumped after the government freed up the naira currency in April, allowing it to free fall against the US dollar.