World Bank projects 2.1% growth for Nigeria’s economy in 2019
.Forecasts 2.2 % growth in 2020
By Udeme Clement
The World Bank has projected 2.1 percent growth rate for Nigeria’s economy in 2019 fiscal year.
World Bank based the statistics of its forecast on high inflation rate, dearth of infrastructure, as well as policy inconsistency in the economy.
The forecast for Nigeria’s economy formed part of the Bank’s report on the current state of economies in Africa.
More so, the projection on World Bank report indicated that the growth of Nigeria’s economy will increase from 1.9 percent recorded in 2018 fiscal year, to about 2.1percent in 2019 economic year.
Accordingly, the World Bank also projected that the growth rate will increase marginally to 2.2percent in 2020 and will rise to 2.4percent in 2021.