Nigeria’s economy projected to grow more slowly as investors hold off
Nigeria’s economy is expected to grow more slowly this year than previously forecast as investors hold off before elections in early 2019.
In the poll taken in the past week, analysts and economists’ forecasts showed a median of 2.1 percent growth for Nigeria, accelerating to 3.0 percent next year.
The poll by Reuters show a significant downgrade from the previous poll taken three months ago, which showed Africa’s largest economy expanding 2.6 percent this year after a 0.8 percent last year.
Chief Economist at Macroafricaintel, Rafiq Raji says upcoming elections will instigate caution on the part of economic stakeholders.