The World Bank Group, on Thursday evening, announced that Nigeria will soon come out from its current economic recession.
This disclosure was made by the Country Manager in Nigeria, International Finance Corporation, Eme Essien-Lore, during an interview with the News Agency Of Nigeria, NAN, in Lagos.
She noted that there were several indications to show that the country’s economy was beginning to rebound, after several months of decline.
“In our perspective, and with the numbers that we have seen coming from the World Bank and the International Monetary Fund (IMF), Nigeria’s economy has recorded about one percent real growth.
“That is a bit lower than government’s expectation, which is about 2.2 percent growth for 2017. It is a bit modest, but we certainly expect that the economy of Nigeria will rebound and recover from last year’s recession,” she said.
Essien-Lore commended the Federal Government’s new economic plan, but said that there was need to set priorities for its implementation up to 2020.
On government ERGP, she said the plan is very comprehensive, ambitious, and thoughtful, and that the World Bank had been consulting with the Nigerian government on the plan, adding that, the bank was happy that it had been published.
“Now we can sit down and look at it to see how we will align our objectives around what the government wants to do.”
Essien-Lore said the plan was an opportunity to look at the priorities, and what the World Bank could do for the Nigerian government, as “it comes up with its development agenda.
The plan is for 2017 to 2020; it is a relatively short period, but we need to know what the priorities are, and collectively work with government on how to achieve them,” she said.
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