The International Monetary Fund (IMF) has increased Nigeria’s growth forecast to 2.6 per cent and 2.7 per cent for 2021 and 2022, respectively, amid the rally in oil prices. The revision was made in the IMF’s October 2021 World Economic Outlook Report, which was released on Tuesday.
The growth forecast for Nigeria was originally pegged at 2.5 per cent in 2021 and 2.6 per cent in 2022 but with oil prices rallying above $80 per barrel on the back of an energy crunch, Nigeria, Africa’s top exporter of the commodity is expected to reap some benefits according to the IMF. A barrel of crude oil sold for $83 Wednesday according to Bloomberg data…
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