Despite Economic Crisis, Nigeria’s Economy To Grow By 2 Percent In 2021 – CBN

CBN says that Nigeria’s Economy Will Recover By 2 Percent In 2021.

The Nigerian economy will recover by 2% in 2021, the Central Bank, Godwin Emefiele governor said on Friday.

Nigeria plunged into an economic crisis in November as a result of the COVID-19 impact on the economy and falling oil prices, theeditorng.com recalls.
But Godwin Emefiele said he expects the problem to be temporary.

In addition, he said, he expects inflation to ease in the first six months of 2021.
He also defended the foreign exchange policy, saying it was “in line with the rest of the world” because the naira was allowed to appreciate itself in the market.

He added that there was no need to worry about Nigeria’s foreign reserves.