The
heavily-criticized government of President Muhammadu Buhari appears to
have rescued Nigeria from the claws of economic recession.
President Muhammadu Buhari
Nigeria's economy has climbed out of recession, according to World Economics.
World Economics is an organisation dedicated to producing financial
analysis, insight and data relating to questions of key importance to
the world economy.
Information on its website reads;
"March Sales Managers’ Index (SMI) data suggests that the
Nigerian economy is starting to grow out of the recession which saw 10
months of consecutive contraction. The Market Growth Index grew to 53.5
in March as the monthly Sales Growth Index edged up to 51.3, its highest
value since March 2016.
It is too early to speculate if the recovery is built on solid
fundamentals for a sustained recovery but the changes reflected are not
insubstantial. Price inflation for March, which is tracked by the Prices
Charged Index, remained high at 61.3 - and indicative that very high
levels of inflation continue.
Overall, conditions in Nigeria have improved over the past
month and managers are expressing optimism that the economy will
continue to grow".
See graphical representations below:
