Nigeria 🇳🇬 and South Africa 🇿🇦 economy leave from recession

Two of the largest economies in Africa are growing again after recessions.

Nigeria's GDP expanded by 0.55% in the second quarter of 2017 year-on-year, according to the National Bureau of Statistics, ending five consecutive quarters of contraction.

The South African economy grew by 2.5% quarter-on quarter for the three months to June 30 after two quarters of decline, according to official statistics.

The finance industry also performed well with growth of 3.5%, and the mining industry expanded by 3.9%, supported by increased production of coal and gold.

But despite these positive indicators, Statistics South Africa warned that the recovery remains fragile as "longer-term indicators show subdued growth."

UCJ, UNILORIN.