The International Monetary Fund (IMF) has said it may review Nigeria’s growth projection if the ongoing protests in the country persist, in view of the impact of the economy.
The Director, African Department, IMF, Abebe Selassie, said this while responding to questions during the virtual IMF press conference on the regional economic outlook for Sub-Saharan Africa on Thursday.
He described Nigeria’s protest as one of the difficult ones that generated concerns for the IMF. Selassie said, “On the growth projections in Nigeria, I mean, these protests happened of course, after we had closed, after the period where the data we looked at in making the growth projections for this economic outlook.
“And much will depend really on how these protests evolve. “Lagos of course, is a very important economic hub and contributes quite a bit of economic activity to overall Nigeria activities.
“So, if these persist and are showing significant effects on economic data, we will internalize them in due course.” While saying that the protest was a difficult one to comment on, he said economic conditions in Nigeria for the last four years had been very difficult in the wake of the decline in oil prices in 2015-16.