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Nigeria’s Economy to Grow by 3.1 %

Federal Government says it is optimistic that the Nigerian economy will continue to maintain its recovery in 2019 as the real GDP growth is expected to increase from 0.8% in 2017 to 2.1% in 2018 and 3.01% in 2019, with the sustained implementation of the ERGP.
Minister of planning, Udoh Udoma said the proposed 2019 Budget is intended to further reposition the economy on the path of faster, inclusive, diversified and sustainable growth, and to continue to lift significant numbers of our citizens out of poverty.
The Minister explained that with the improved coordination of fiscal and monetary policies, exchange rate stability, improved oil export earnings and capital inflows, as well as the continuation of the current prudent management of foreign exchange reserves by the CBN, inflation is expected to trend downwards to single digit of 9.98% in 2019 from 11.44% as at December 2018.

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