World Bank Says Nigeria’s Economy To Record 1% Growth In 2020

World Bank Says Nigeria’s Economy To Record 1% Growth In 2020

Nigeria’s economy is expected to grow by two point one percent this year, according to the World Bank prediction.

The bank made the prediction in its January global economic prospects.

Vice President of the bank, Cayla Pazarbasioglu, asks the federal government to initiate structural reforms that will boost the economy, saying Nigeria’s macro-economic framework is not conducive, given the multiple exchange rate, foreign exchange restriction and persistent inflation.

The global financial institution calls on improve on business climate local production and proper debt management to sustain growth.

Doing these, the bank says improving the economic policy will minimize the risk associated with the current debt profile in the country.

 

 

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