Nigeria to grow by 2.1% this year, says IMF
Written by stylemonument on April 19, 2018
The International Monetary Fund says Nigeria, the sub-Saharan Africa’s most-populous nation and top crude producer, will grow by 2.1 per cent this year, matching the lender’s estimate released in January.
In its Africa Pulse report released on Wednesday, the Washington-based Fund said South Africa, the world’s biggest source of platinum, would expand by 1.5 per cent, more than the 0.9 per cent prediction three months ago.
The two economies account for almost half of the SSA region’s Gross Domestic Product.
The IMF increased its forecast for expansion in sub-Saharan Africa to 3.4 per cent this year and 3.7 per cent the next “as the challenging outlook in commodity exporters gradually improves,” it said.