Nigeria will soon recover from recession – World Bank

The World Bank has said Nigeria will soon get out of its economic recession.

Country Manager in Nigeria, International Finance Corporation, Eme Essien-Lore said this in Lagos on Thursday.

”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 per cent real growth.

”That is a bit lower than government’s expectation which is about 2.2 per cent 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.

She said the World Bank is happy that the Federal Government has published its economic plan.

”Now we can sit down and look at it to see how we will align our objectives around what the government wants to do.”

Lore said the World Bank will look at what it can do for Nigeria.

”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.

She said that Nigeria was growing very fast and would soon become the third largest country globally, after India and China.

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