• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, October 3, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

What IMF predicts about Nigeria’s economic growth

IMF

The Matters Press by The Matters Press
April 20, 2022
Reading Time: 2 mins read
0
IMF’s reasons for Nigeria’s economic recovery

The International Monetary Fund (IMF) has raised Nigeria’s 2022 economic growth forecast from the 2.7 per cent it had previously estimated, to 3.4 per cent.
Additionally, the fund reviewed upward the country’s 2023 growth prediction, from 2.7 per cent to 3.1 per cent.

RELATED POSTS

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

Atiku’s hunger revolution, delusional – TMSG

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

These were contained in the IMF’s latest World Economic Outlook (WEO), titled: “War Sets Back the Global Recovery,” that was released on the side-lines of the ongoing IMF/World Bank hybrid spring meetings in Washington DC.

The multilateral institution noted that the non-oil sector played a pivotal role in increasing Nigeria’s growth prospect, noting that globally only 86 per cent of countries saw a downward revision of its growth projection. It indicated that Nigeria was amongst 14 per cent of countries that had been estimated to record growth.

On Nigeria’s growth forecasts, Division Chief Research Department, Mr. Malhar Nabar, said during a media briefing.

He said, “The heterogeneity is a key factor, if you look at the global revisions that we have 86 per cent of the global economy revising down and Nigeria is one of the few that’s actually revised up and there are two main factors: one is what you mentioned, the increased oil price, which represents a favourable terms of trade effect for Nigeria, will increase oil production and oil exports.

“And then the second factor is the strong momentum that we saw in the non-oil sector part of the economy.

“The non-oil sector of the economy is also showing strong momentum going into this year, which helped lift the outcome, growth forecasts that we have for Nigeria to 3.4 per cent for this year, and 3.1 per cent for next year, and that’s 0.7 percentage point increase for this year and 0.4percentage point increase your next.”

IMF Chief Economist, Mr. Pierre-Olivier Gourinchas, also noted that oil price increase played a role in the upward review.

Gourinchas said, “Nigeria is an energy producer and exporter. And I think that explains a good part of the upward revision in our growth projections.”

More=ThisDay=

Tags: IMF
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Consumer commission, CBN, EFCC investigate violations in money lending
Economy/Technology

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

September 24, 2025
Drop your frustration, let President Tinubu be, Group picks on Atiku
Economy/Technology

Atiku’s hunger revolution, delusional – TMSG

September 23, 2025
‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG
Economy/Technology

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

September 22, 2025
2023 maritime, shipping outlook force experts to call for aid
Economy/Technology

Leap in non-oil exports gain of Nigeria:s economic diversification ‎

September 17, 2025
NBS reports increase in Inflation
Economy/Technology

Think Tank ‎projects 17% inflation rate by year-end, urges CBN to ease benchmark rate ‎

September 17, 2025
Old pension scheme beneficiaries get a boost in entitlements
Economy/Technology

‎GROUP LAUDS INSURANCE SCHEME FOR RETIREES IN NIGERIA. ‎

September 14, 2025
Next Post
NBS reports increase in Inflation

Experts urge Nigeria to tackle supply shocks to curtail inflation

Nigeria gets AfDB’s $14m as member of ATI

AfDB in talks to promote blueprint, equip Africa’s workforce

Recommended Stories

Eswatini for $140m Afreximbank’s credit

Afreximbank, Anambra sign $200m development agreement

November 12, 2023
Tinubu inaugurates economic council

‎No political undertone in Tinubu’s befitting honour for Buhari, TDF ‎

July 23, 2025
Nigeria, WFP worry over food situation

Nigeria’s inflation rises as internal revenue dips

October 15, 2020

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎
  • Atiku’s hunger revolution, delusional – TMSG
  • ‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us