In the World Economic Outlook by the International Monetary Fund released on Monday, Nigeria’s Gross Domestic Product projection for twenty-nineteen has been raised to 2.3%.
The increased outlook for 2019 has been attributed to a projected improvement in oil prices. In Sub Saharan Africa, growth is expected to increase to 3.8% in 2019. The Fund stated, “The upgraded forecast reflects improved prospects for Nigeria’s economy.
Its growth is set to increase from 0.8% in 2017 to 2.1% in 2018 and 2.3% in 2019.
