Nigeria’s economic performance weakened in the first part of 2023 amid a challenging global context and domestic economic distortions. The prevailing global economic conditions continue to pose challenges...
In 2020, Nigeria experienced its deepest recession in four decades, but growth resumed in the fourth quarter as pandemic restrictions were eased, oil prices recovered, and the authorities implemented policies...
This report highlights how the COVID-19 (coronavirus) crisis has impacted Nigeria’s economy. In 2020, Nigeria’s economy is expected to experience its deepest recession since the 1980s due to the COVID-19-related...
This edition of the Nigeria Development Update provides policy options that Nigerian policymakers may consider in order to mitigate the impacts of COVID-19 (coronavirus) and lay the foundation for a strong...
Nigeria continues its recovery from the 2016 recession, sustaining an estimated 2 percent growthrate in 2019. The collapse of global oil prices during 2014–16, combined with lower domestic oil production...
Nigeria's emergence from recession remains slow: real GDP grew by 1.9 percent in 2018. While this was above the 0.8 percent growth of 2017, it was below the population growth rate, government projections...
The Nigeria Biannual Economic Update is a product of the staff of the World Bank and has three broad aims. First, it reports on the key developments in the Nigerian Economy in the recent past. Secondly...
The Nigerian economy remains dependent on the small oil sector (under 10 percent of GDP) for the bulk of its fiscal revenues and foreign exchange earnings. This makes Nigeria’s balance of payments and...
The Nigeria Biannual Economic Update is a product of the staff of the World Bank and has three broad aims. First, it reports on the key developments in the Nigerian Economy in the recent past Secondly...
Nigeria's economy recorded positive growth (0.6 percent year-on-year) in the second quarter of 2017, after contracting for 5 consecutive quarters, and growth is expected to reach 1 percent in 2017, contingent...