The Nigerian Economic Summit Group (NESG) has projected thta in the best case scenario, the Nigerian economy would grow by 3.2 per cent in 2022, lower than the federal government’s 4.2 per cent forecast for the year and 3.3 per centby 2024.
The business as usual bad worse case scenarios, NESG predicts 2.7 per cent and 1.8 per cent GDP growth rate for the economy in 2022.
The NESG, however, predicts Nigeria’s inflation to moderate to 12 per cent from the current 15.63 per cent, despite expectations that the inflationary pressures would likely skyrocket on the heels on the electioneering spendings this year.
NESG made the predictions in its macroeconomic outlook for 2022 tagged: “The Last Mile: Reforms towards Significant Improvement in National Economic Outcomes”.
The private sector thinktank foresee government revenue to increase by 30 per cent in 2022.
Official exchange rate was also projected to stabilize at N415/$1; praallel exchange re ta N535/$1.
Unemployment rate is predicted to increase by 30 per cent; underemployment re ta 22 per cent.