The International Monetary Fund (IMF) has predicted that Nigeria’s economy will grow by 2.6 per cent this year and a 2.7 per cent in 2022.
The prediction was contained in its October Regional Economic Outlook for Sub-Saharan Africa: One Planet, Two Worlds, Three Stories, made available at the ongoing Annual Meetings of the IMF and World Bank in Washington, United States (US), yesterday.
It stated that the growth would be driven by recovery in non-oil sectors and higher oil prices.
“Growth will inch up slightly to 2.7 per cent in 2022 and remain at this level over the medium term, allowing GDP per capita to stabilise at current levels, notwithstanding long-standing structural problems an elevated uncertainties,” the report stated.
In his opening remarks at the media briefing on the outlook, Director, African Department, IMF, Mr Abebe Selassie, said the recovery followed the sharp contraction in 2020 and was much welcome.
Selassie, however, said the growth still represented the slowest relative to other regions attributing the divergence reflected the slow vaccine rollout and differences in policy space.