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11 Jan 2019, Gergana Bencheva, EMIS Editor

Nigeria’s economy to grow 2.2% in 2019

Nigeria’s economy is expected to grow by 2.2% in 2019 and by 2.4% in 2020-2021, Vanguard-Nigeria reported citing an estimate made by the World Bank. The financial institution also anticipates oil prices to reach an average of USD 67 per barrel for 2019 and 2020.

In the meantime, the World Bank warned that global financial conditions as a whole tightened, and trade policy uncertainty persisted. On the other hand, Nigeria enjoyed a slow improvement in private demand which would constrain growth in the non-oil industrial sector.

Furthermore, the bank’s estimate for Sub-Saharan Africa’s economic growth is for an increase of 3.4% in 2019 followed by an average of 3.7% in 2020-2021, Vanguard-Nigeria added.

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