IMF may revise upward its earlier growth forecast for Nigeria_ IMF chief

The International Monetary Fund is likely to revise higher its growth forecast for Nigeria, its mission chief said on Tuesday.

Jesmin Rahman, the IMF mission chief to Nigeria, said the country’s surprise exit from recession in the fourth quarter would aid its economic outlook for the coming year.

“It wasn’t as bad as we expected,” Rahman said of the country’s 2020 recession.

Rahman did not put a figure on the 2021 growth overall, but said the medium-term growth rate could return to 2.5 percent. The IMF previously projected 1.5 percent growth for 2021.

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