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Country Economic Forecasts > Nigeria

  • 8 pages, published in April 2017
  • By Oxford Economics
  • Report Number: 1907620

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The economy performed dismally last year when GDP contracted by 1.5%. We still expect a modest pick-up to 1.5% growth in 2017, driven primarily by higher oil production and an aggressive ramp-up in fiscal spending. But downside risks to our growth outlook have mounted, with the government experiencing delays in passing the 2017 budget, while oil production has risen only slowly due to ongoing repair and maintenance work being carried out at some of the largest oil export terminals. GDP growth is nonetheless seen rising to an average of 3.3% a year in 2018-19.

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