The International Monetary Fund IMF, has
predicted Nigeria will recover from the current economic recession this year.
The international body stated this in its latest World Economic Outlook
released yesterday Monday January 16th.
According to the outlook, Nigeria's Gross Domestic Product is expected to
grow by 0.8 per cent this year and 2.3 per cent in 2018 due to increased oil
production in the Niger Delta.According to the release, the increase in oil production is mainly as a result of improvement in security within the Niger Delta region.
"Nigeria’s forecasts
were also revised up, primarily reflecting higher oil production due to
security improvements"the report stated
The outlook is similar to that of the World Bank that also
predicted Nigeria would get out of Economic recession this year.
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