Nigeria economy

Nigeria has just emerged from a tough recession, but brighter days lie ahead for Africa's economic powerhouse.

The West African state is overly reliant on oil. Natural gas reserves and a youthful population may help it diversify.

The Lagos governor said unpaid taxes were blocking development and slowing the city's recovery from devastating floods.

Nigeria slipped into recession in 2016 after militants blew up oil facilities. But the government is trying to negotiate peace.

The West African country has been in recession since mid-2016.

Christian pastor Yemi Osinbajo is Nigeria's acting president while Muhammadu Buhari is on sick leave.

Buhari returned in March from a two-month medical absence in the U.K.

Nigeria has suffered from falling oil prices and a lack of foreign exchange.

The singer has called for a peaceful march against the country's economic crisis.

Muhammadu Buhari will still have eight aircraft at his disposal despite downsizing.

Nigeria recently lost the title of Africa's biggest economy to South Africa.

The West African country has been hit hard by falling oil prices and low production.

"I fail to appreciate the economic explanation," said the Nigerian president.

Allowing the currency to float will help economic recovery, but it's no panacea.

Buhari first proposed the budget in December 2015.

Nigeria is no longer Africa's investor hotspot, but there are signs it could recover.