Nigeria In One Minute
‘High unemployment rate, inflation dragging economic growth trajectory’
Private sector operators under the aegis of the Nigerian-American Chamber of Commerce (NACC), have described the need for improved governance to aid improvement in the standard of living of Nigerians, and build an economy that can withstand shock.
According to the stakeholders, although the economy exited recession in 2016, she is still in a stagflation state, based on very high rates of unemployment, double-digit inflation, and sluggish growth.
Specifically, the immediate past Director-General, West African Institute for Financial and Economic Management (WAIFEM), Prof. Akpan Ekpo, predicted a three per cent growth rate in 2019, noting that with everything being equal pre and post elections, the Nigerian economy is expected to grow by one per cent this year.
The Guardian, February 8, 2019
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