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Saturday, 21 April 2018

NIGERIA ECONOMY

Nigeria Economic Outlook
March 20, 2018
The economic recovery gained steam in the final quarter of 2017, with growth rising to a two-year high on the back of a solid performance in the non-oil sector. Higher crop production boosted the agricultural sector, which offset lackluster activity across other divisions of the economy. Moreover, oil production fell in the fourth quarter, dampening the energy sector’s momentum. Early data for the first few months of 2018 suggests that the economy’s positive momentum carried over into the new year: The PMI pointed to healthy growth in February. Meanwhile, political wrangling on the 2018 budget continues, delaying its approval and the expected boost to public infrastructure spending. The record NGN 8.6 trillion (approximately USD 28.2 billion) budget was first presented in November; however, various ministries have not yet come before parliament to defend their allocations, delaying its implementation.
Nigeria Economic Growth
After a moderate 0.8% expansion in 2017, FocusEconomics panelists expect GDP growth to pick up pace this year and come in at 2.6%, unchanged from last month’s projection. Greater liquidity in the economy and higher oil prices should encourage investment, while households are expected to benefit from lower inflation and an improving labor market. In 2019, growth is seen increasing modestly to 3.0%.
Nigeria Economy Data
2012
2013
2014
2015
2016
165
169
-  
-  
-  
165
169
-  
-  
-  
2,708
2,944
-  
-  
-  
2,708
2,944
-  
-  
-  
446
498
-  
-  
-  
446
498
-  
-  
-  
4.2
5.5
-  
-  
-  
4.2
5.5
-  
-  
-  
0.0
21.1
-  
-  
-  
0.0
21.1
-  
-  
-  
2.8
4.2
-  
-  
-  
2.8
4.2
-  
-  
-  
1.5
0.0
-  
-  
-  
1.5
0.0
-  
-  
-  
7.6
7.1
-  
-  
-  
7.6
7.1
-  
-  
-  
-1.3
-1.4
-  
-  
-  
-1.3
-1.4
-  
-  
-  
12.5
12.6
-  
-  
-  
12.5
12.6
-  
-  
-  
16.4
1.3
-  
-  
-  
16.4
1.3
-  
-  
-  
12.0
8.0
-  
-  
-  
12.0
8.0
-  
-  
-  
12.2
8.5
-  
-  
-  
12.2
8.5
-  
-  
-  
12.00
12.00
-  
-  
-  
156.2
160.0
-  
-  
-  
12.00
12.00
-  
-  
-  
156.2
160.0
-  
-  
-  
158.8
159.2
-  
-  
-  
158.8
159.2
-  
-  
-  
4.2
4.0
-  
-  
-  
4.2
4.0
-  
-  
-  
18.9
20.1
-  
-  
-  
18.9
20.1
-  
-  
-  
40.9
43.8
-  
-  
-  
40.9
43.8
-  
-  
-  
94.3
95.1
-  
-  
-  
94.3
95.1
-  
-  
-  
53.4
51.4
-  
-  
-  
53.4
51.4
-  
-  
-  
-2.9
0.8
-  
-  
-  
-2.9
0.8
-  
-  
-  
-14.1
-3.8
-  
-  
-  
-14.1
-3.8
-  
-  
-  
44.2
43.6
-  
-  
-  
1.5
1.8
-  
-  
-  

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