Nigeria Exits Recession and Looks Beyond Oil
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Nigeria Exits Recession and Looks Beyond Oil
March 7, 2018
Nigeria needs to increase non-oil revenues. (photo: iStock by Getty Images)
Nigeria’s economy is picking up according to the IMF’s latest economic review. Growth hit 0.8 percent in 2017 after contracting by 1.6 percent in 2016. The report attributes the increase—in part—to the recent recovery in oil prices. But as the country emerges from recession, the IMF’s Amine Mati says following through on planned reforms regardless of oil price swings and upcoming elections, is key to lifting Nigeria’s growth rates to where they should be. Mati heads the IMF team for Nigeria and oversaw this latest economic assessment.
Amine Mati, IMF mission chief and senior resident representative in Nigeria
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