Nigeria's Economic Outlook for 2018

18 January 2018
opinion

The year 2017 was mixed in economic terms from traumatic recession to recovery. It started with a negative growth rate of 0.8percent, but the economy recovered and moved out of negative growth to a positive path of a long-term sustained growth.

For the year 2018, there is a blurred trajectory that would make any forecasts dependent on the school of thought one belongs to. This varies from the IMF projection of 2.1percent to that of the 2.6percent of the rating agency, Fitch, and the revised World Bank's 2.5percent. All these projections will not make meaning until Nigerians feel the impact on their living standard. It is achievable if only the economic policy makers handle the most crucial elements of the economy, about which there are absolutely no guarantees.

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