WORLD BANK PREDICTS GROWTH FOR NIGERIA’S ECONOMY

, Magazine

Nigeria’s economy will experience a progression in the coming years, according to World Bank. The International financial institution predicted the economy will grow by 2.1 percent for three years between 2020, 2021 and 2023.

In a report which also showed that Kenya would record 6% growth during the same period; puts global economic growth at 2.5%.

The predictions are contained in World Bank’s January 2020 Global Economic Prospects.

The report, however, described the Nigeria’s macroeconomic framework as not “conducive to confidence.” This framework is characterized by multiple exchange rates, foreign exchange restrictions and persistent inflation, all of which are not favorable considering Nigeria. 3