Nigeria Is Recovering From Recession; Growth Levels Are Constrained and Reforms Must Resume


Monday, April 08,  2019  06:15 PM / RTC Advisory Services                       



• In this report, we review the global economy focusing on expectations for global growth and oil prices in 2019. 


• Thereafter we carry out a detailed dissection of Nigeria’s economic conditions including overall GDP and sectors, macroeconomic conditions and a unique insight into the performance of states and regions across multiple variables.


• Finally we examine the results of Nigeria’s recent presidential and national assembly elections and draw implications for business and policy from the data and analysis presented.


• Overall Nigeria’s economy is recovering from recession, but growth levels are constrained and reforms must resume to catalyse higher levels of growth and employment.


Global Overview

Global GDP Growth


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Global Economic Growth Summary

The IMF projects 2019 global growth at 3.5% with the USA expected to record 2.5% growth and the Euro area at 1.6%. Developed and emerging economies are projected to grow at 2.0% and 4.5% respectively, while sub-Saharan Africa as a whole is expected to record 3.5%.


• The IMF expects the Nigerian economy to grow at 2.0% in 2019 versus the World Bank’s estimate of 2.2%-both estimates are significantly lower than the Government of Nigeria’s budget forecast of 3.0%.


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