Nigeria economy Growing Backward as Kenya beats Nigeria in stock-trading for the first time,

– Kenya beats Nigeria for the first tome in stock-trading 
– This was revealed by a data compiled by Bloomberg
– The Nigerian economy has been on an all-time low for a while
Investors put more money into Kenyan stocks than Nigeria’s for the first time, a data compiled by Bloomberg reveals.
The value of shares traded on Nigeria’s exchange fell to $139 million, near the lowest since Bloomberg began compiling such data in 2009.
See the chart below:

Kenya, an economy eighth the size of Nigeria is set to grow almost 6 percent this year, the value rose 4.2 percent from August to $152 million.
The Nigerian economy has been on an all time low since the resurgence of militant attacks on oil facilities in the oil-rich region of Niger Delta, which has affected the country’s earnings.

President Muhammadu Buhari is presiding over a battered economy

Figures released by the National Bureau of Statistics (NBS) on Wednesday, August 31, showed that Nigeria had officially gone into recession.
The NBS figures showed that in the Gross Domestic Product (GDP) for the second quarter of 2016, Nigeria’s economy contracted by 2.06 percent. The country’s economy shrank by 0.36 percent to hit its lowest point in 25 years.
The second quarter report makes Nigeria’s economy the worst in three decades.
These are not the best of times for the Muhammadu Buhari led government as S&P Global Ratings recently downgraded Nigeria further into junk territory.
On Friday, September 30, the World Economic Forum ranked Nigeria 127th out of 138 countries in the 2016-2017 Global Competitive Index.
Meanwhile, an analyst at a leading information and advisory services firm for emerging markets – Frontier Strategy Group, Martina Bozadzhieva has blamed President Buhari for mishandling the economy.