Deepening Democracy through Access to Information
Home / News / All News RSS ← Back

Email this article

separate emails by commas, maximum limit of 4 addresses

Sponsored by


Article Enquiry

Nigerian economy to grow by up to 3% this year – cenbank governor


Embed Video

Nigerian economy to grow by up to 3% this year – cenbank governor

Nigerian Flag

14th September 2021

By: Reuters


Font size: -+

Nigeria estimates its economy will grow between 2.5% and 3% this year, Central Bank Governor Godwin Emefiele said on Tuesday, after an easing of lockdown measures and increased vaccinations boosted business, including international and local travel.

Africa's largest economy had contracted in 2020 due to the coronavirus pandemic, though in the fourth quarter it managed to exit its recession, the second since 2016, and growth has now increased for three consecutive quarters to June 30. The economy expanded by 5% in the second quarter of this year.


"With continued improvements in the economy, I am optimistic... we would end the year with an annual GDP growth of between 2.5–3.0 percent," Emefiele told a banking conference.

Nigeria had been grappling with low growth before the Covid-19 pandemic triggered a recession and created large financing gaps, including dollar shortages and inflation.


Amid a third wave of infections, Nigeria has started a second phase of inoculating its 200-million citizens after it received a donation of 4-million doses of the Moderna vaccine from the US government.

"Notwithstanding the positive news ... I would admit that growth remains fragile. We are not out of the woods yet, given the challenges in combating the Covid-19 pandemic," Emefiele said.


To subscribe email or click here
To advertise email or click here

Comment Guidelines

About is a product of Creamer Media.

Other Creamer Media Products include:
Engineering News
Mining Weekly
Research Channel Africa

Read more


We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store


Advertising on is an effective way to build and consolidate a company's profile among clients and prospective clients. Email

View options
Free daily email newsletter Register Now
Register Close