The International Monetary Fund IMF has raised Nigeria’s 2022 economic growth forecast from the 2.7 per cent it had previously estimated, to 3.4 per cent.
Additionally, the fund reviewed upward the country’s 2023 growth prediction, from 2.7 per cent to 3.1 per cent.
These were contained in the IMF’s latest World Economic Outlook WEO, titled: “War Sets Back the Global Recovery,” that was released on the side-lines of the ongoing IMF/World Bank hybrid spring meetings in Washington DC.
The multilateral institution noted that the non-oil sector played a pivotal role in increasing Nigeria’s growth prospect, adding that globally only 86 per cent of countries saw a downward revision of its growth projection.
It indicated that Nigeria was amongst 14 per cent of countries that had been estimated to record growth.
