Election uncertainty, oil price kill construction in Nigeria

March 23, 2015 5:19 PM

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ABUJA (Reuters) - Political uncertainty over Nigeria's election on Saturday and economic turmoil from low oil prices have delivered a double blow that has slashed revenues and triggered layoffs for businesses across Africa's biggest economy.

But while some, such as consumer goods firms, are less exposed to Abuja's troubles, others like construction firms heavily dependent on government cash are facing frozen projects, unpaid bills and mass redundancies, putting badly needed infrastructure development on ice, industry sources say.

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