Nigerian economy: Learnings from the past – Our challenges and accomplishmentsAs many of you may know, the Nigerian economy received much attention and was recognised as one of the fastest-growing economies in the world between 2010 and 2014. Yet when oil prices fell in 2014, the economy contracted and eventually slipped into a recession by 2016. The economy recovered from the recession and we witnessed eleven quarters of consecutive GDP growth since exiting the recession. Though we were in a recession, our experience was better when compared to some advanced and other emerging market countries. Nigeria recently moved up 15 places in the World Bank’s Ease–of-Doing Business Index as a result of the removal of several bottlenecks in government processes.

Source: The Guardian January 25, 2021 03:22 UTC