Nigeria’s Economy is Finally Out Of Recession – World Economics

The heavily-criticized government of President Muhammadu Buhari appears to have rescued Nigeria from the claws of economic recession.

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”.

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