‘Nigeria’s economy will expand a little faster than earlier projection’ – IMF

For more news updates visit https://www.financialwatchngr.com/

Nigerian economy could still fall back to recession at anytime
Nigeria's economy

Nigeria’s economy will expand a little faster than earlier projection’ – IMF: The International Monetary Fund says Nigeria’s economy will expand a little faster than its earlier projection.

In the World Economic Outlook report released on Tuesday at the ongoing spring meetings of the IMF and World Bank Group, the fund said Nigeria’s economy will grow by 2.1% in 2019, an increase of 0.1% points from the 2% projection given in January.

In the WEO update released in January, the fund had cut its growth projection for Nigeria’s economy from the 2.3% contained in the October 2018 report to 2% blaming softening oil prices.

“In sub-Saharan Africa, growth is expected to pick up to 3.5 percent in 2019 and 3.7 percent in 2020 (from 3.0 percent in 2018),” the report read.

“The projection is 0.3 percentage point and 0.2 percentage point lower for 2019 and 2020, respectively, than in the October 2018 WEO, reflecting downward revisions for Angola and Nigeria with the softening of oil prices.

“Growth prospects for commodity exporters are weighed down by the soft outlook for commodity prices, including for Nigeria and Angola, where growth is expected to reach about 2.6 percent and 3.9 percent, respectively, in the medium term.”

Speaking on the projection, Oya Celasun, the chief of the World Economic Studies division of the IMF’s research department, said Brexit and softening oil prices are the main risks to Nigeria’s economy in the short term.

“Brexit and softening oil prices are the main risks for Nigeria,” she told reporters.

“We expect a growth recovery, growth was reasonably strong last year and we think that things will improve a bit going forward.”

Do you need high paying jobs in Nigeria? If yes visit https://recruitmentportalngr.com now to apply for hot government and private company jobs in Nigeria today!

Download all job past questions & answers here to get ahead of others in getting that your dream job – Download here now!   Call/WhatsApp: 08141171945



    1. I don’t have money
    2. I can’t meet up with others
    3. I can’t cope with my bills
    4. I can’t improve on neccesary areas

    Your excuses may be legit but they won’t improve your Life.

    •NEWAGE 🏦 INVESTMENT is Fully Registered with with GNI. with RC NO 563855 (For those Who Think GNI Insurance is Not Registered)* *for more explanation Watsapp Administrator Management On *(+2349013135413)*

    *NEWAGE INVESTMENT 🏦 is a platform network that deal with investing of money just within 40-45 minutes you will get back your money double*

    *N5,000 =N10,000*🔂

    I know you are skeptical about this because of the negative experience a lot of issues as regards scamming in the global world.

    I assure you 101%that you won’t lose your money this is because I know the risk of this profit oriented business and I know how to avoid them using my trading skills and signals to make only wins and no losses.

    Are u a worker?
    Are u a student looking for your school fees?
    Are u a woman looking for money to pay your children school fees?

    Are u jobless and u need where u can make source of income?

    NEWAGE 🏦 INVESTMENT is here for you! With a little amount u can earn and make more more source of income.,,,,g

Leave a Reply

Your email address will not be published.