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IMF revises down Nigeria’s 2021 growth forecast by 0.2% The global institution says close to 90 million people will fall below extreme poverty threshold. The International Monetary Fund (IMF) has revised its growth forecast for the Nigerian economy in 2021 to 1.5 per cent from its earlier projection of 1.7 percent. The IMF made the new projection known in its World Economic Outlook (WEO) update released on Tuesday. The new growth projection is 0.2 per cent lower than the multilateral institution’s 2021 forecast made public last year. The IMF, however, projected that in sub-Saharan Africa...

TODAY January 27, 2021 The International Monetary Fund (IMF) in its World Economic Outlook (WEO) update released yesterday has projected that the Nigerian economy will grow by 1.5 per cent this year, slightly lower than the 1.7 per cent it had predicted for the country in its previous forecast. The multilateral institution, in its latest WEO titled: ‘Policy Support and Vaccines Expected to Lift Activity,’ however, predicted that in sub-Saharan Africa, growth will strengthen to 3.2 per cent in 2021 and 3.9 per cent in 2022. It also expected oil prices to average above $50 per barrel in 2...

•Projects 21% rebound in crude oil prices By Nume Ekeghe in Lagos and Emmanuel Addeh The International Monetary Fund (IMF) in its World Economic Outlook (WEO) update released yesterday has projected that the Nigerian economy will grow by 1.5 per cent this year, slightly lower than the 1.7 per cent it had predicted for the country in its previous forecast. The multilateral institution, in its latest WEO titled: ‘Policy Support and Vaccines Expected to Lift Activity,’ however, predicted that in sub-Saharan Africa, growth will strengthen to 3.2 per cent in 2021 and 3.9 per cent in...