FG rejects IMF’s prediction, says economy will grow by over 3% in 2016 – The Cable

The federal government says the Nigerian economy will grow by 3.3 to 3.5 percent by the end of 2016, defying the International Monetary Fund (IMF) forecast on the economy.

This was disclosed by Udo Udoma, minister of budget and national planning, after the national economic council (NEC) meeting in Abuja on Thursday.

Speaking to journalists after the meeting, Udoma — like Kemi Adeosun, minister of finance — acknowledged that Nigeria is currently in a recession, while awaiting gross domestic product details from the National Bureau of Statistics.

He said the economic council and the federal government as a whole were working assiduously to address the state of the Nigerian economy, which is expected to post a negative second quarter GDP.

The meeting, which was chaired by the Vice President Yemi Osinbajo, came about 48 hours after the IMF said Nigeria’s economy would shrink by 1.8 percent in 2016.

Read more at https://www.thecable.ng/fg-rejects-imfs-prediction-says-economy-will-grow-by-over-3-in-2016