Why Nigeria’s Economic Recovery Is Slowing Down

By Mazi Sam Ohuabunwa

Ordinarily there should be so much going for Nigeria’s economy. Production of crude oil at about 2 million barrels per day at a good price of about 70 dollars per barrel is yielding good foreign exchange for the Nation, helping to boost foreign reserves which today stand at about 47.25 Billion dollars. Inflation has continued to decline steadily over several months coming to the current level of 11.4% as the CBN and its MPC retain monetary policy index at a tight stance.

*President Buhari and Finance Minister Adeosun 

 Also some great effort is being made at the economic management level to pursue the Nigeria Economic Recovery and Growth   plan( NERGP). Additionally, some improved liquidity has been noticed in terms of funding Nigeria’s infrastructure projects, combining oil revenue,tax heist with a large dose of debt from sundry sources.