The
National Bureau of Statistics says despite the drop in oil prices, the Nigerian
economy is expected to grow by 3.78 percent this year, up from 2.97 percent in
2015
The
NBS in its forecast released in Abuja, sees growth to reach an average of 5.41
percent yearly between 2017 and 2019 as infrastructure development provide
support for both the oil and non-oil sectors.
The
statistics office while expecting the central bank’s adjustment of the foreign
exchange management framework to be steadied this year thus helping prices to
gradually ease beyond 2016, said over the 2017 to 2019 period, inflation is
expected to average 9.01 percent.
Last week, Nigeria’s foreign reserves fell to $28.2 billion, its lowest level since 2005.
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