IMF predicts Nigeria to recover from recession this year, with 0.8% economic growth forecast

The International Monetary Fund, IMF, has predicted that Nigeria would recover from it's current economic recession this year after projecting that the country's economy will grow by 0.8 per cent in the current year.

This was stated in the international body's latest World Economic Outlook released on Monday January 16th.
According to the outlook, Nigeria's Gross Domestic Product is expected to grow by 0.8 per cent this year and 2.3 per cent in 2018, citing the increased oil production in the Niger Delta region of the country and security improvement.

"Nigeria’s forecasts were also revised up, primarily reflecting higher oil production due to security improvements" the report stated