IMF predicts Nigeria’s economy to grow by 1.9% in 2018 – The Sun Nigeria

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The International Monetary Fund (IMF), has predicted that the Nigerian economy is expected grow by 1.9 per cent in 2018, up from 0.8 per cent in 2017, due largely to fewer disruptions in oil production.

Amine Mati, the IMF Senior Resident Representative in Nigeria gave the projection while presenting the “Fall 2018 Regional Economic Outlook for Sub-Saharan Africa’’ on Thursday in Abuja.

Mr Mati said that some pick-up in the non-oil economy was also responsible for the predicted growth rate.

According to him “The recovery is expected to contribute about 0.7 percentage points to the region’s average growth in 2018 and lift activity in Nigeria’s trading partners through stronger remittances, financial spillovers and import demand.’’

He also said that average growth for the region was expected to reach about 3.1 per cent in 2018, up from 2.7 per cent recorded last year.

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