If policy challenges
with exchange rates, insecurity, among others, were addressed effectively, Nigeria would start seeing some positive projections in 2021 and
the beginning of 2022. Also, if there is improved vaccination, and the health
hazards and lockdowns are not resurfacing, we will see GDP getting close to
three per cent by the end of 2021,” says the Central Bank of Nigeria (CBN).
Hassan Mahmud,
director of monetary policy department, CBN, said this on Friday in Lagos at
the virtual mid-year economic review and outlook 2021, organised by the
Chartered Institute of Bankers of Nigeria’s Centre for Financial Studies, in
collaboration with B. Adedipe Associates.
“We will also see the inflation number coming down less than 13 percent by the end of the year and further down to the National Bureau of Statistics projection of single-digit by 2022 or the middle of 2022." We will start seeing a downward trend in inflation numbers particularly, headline inflation. Food inflation would also go down substantially, he said.
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