Browsing: Nigeria Country Risk report

• The Nigeria Country Risk report by Fitch Solutions projects Nigeria’s economy to grow by 2.8% in 2022.
• According to data published by the National Bureau of Statistics, the real GDP growth accelerated for a third consecutive quarter to 5.0% y-o-y in Q221, from 0.5% Q121.
• This is on the back of stronger household spending and an increase in crude oil export value.

The Nigeria Country Risk report which has been released by Fitch Solutions has projected the West African country’s economy to grow by 2.8% in 2022.

This is on the back of stronger household spending and an increase in crude oil export value.

The projections were made following expected growth of 2.1% in 2021 from the 1.9% contraction recorded in the previous year, which was affected by the covid-19 lockdown measures.

Government consumption

According to the report, government consumption is expected to rise in the coming year, based on …