Nigeria To Experience -5% GDP Growth by 2020, With $20bn Contraction - Bismark Rewane
Nigerian economist and financial analyst Mr Bismark Rewane has asserted that Nigeria will experience a -5% negative GDP Growth for 2020, with a $20bn contraction as an economy at the end of the year.
Mr Bismark Rewane disclosed this as a guest on the WebTV "Economy and Politics" show which discussed "Nigeria's H2, 2020 Economic Outlook". He also called on Nigerians to embrace and adjust to the market economic reforms of the Federal Government covering a cost-reflective tariff for electricity, removal of fuel subsidies and a market determined foreign exchange rate regime.
According to him the unification of the FX rates in the country, will incentivize more investments and increase diaspora remittances into the nation