The reactions from discussing the IMF’s report from my favourite echo chambers were not as good. Nigerians have struggled for years to square palpable evidence of falling living standards with the sense of a strengthening economy. A small bit of this argument is readily resolved by the reminder that annual growth rate lesser than 7-10 percent will never be enough to meet the country’s needs. If nothing at all, the fact that the domestic economy’s trend growth rate over the past two decades has barely been higher than the rate of its population growth is a recipe for the economy’s continued impoverishment.
On the IMF’s recent numbers on the economy, By Uddin Ifeanyi
