Finance

NBS,Nigeria is techically out of recession : World Bank,Nigeria’s debt has doubled

the National Bureau of Statistics showed that Nigeria had exited recession, several challenges remain at different levels of government, the World Bank has warned.

In a report released in Abuja on Wednesday, the World Bank pointed out some of the challenges at the level of state government in the country, including increasing debts and fiscal deficits.

According to the biannual report, the debts of the states increased from 2.4 per cent in 2014 to four per cent of the Gross Domestic Product by the end of 2016.

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