SAN FRANCISCO, February 14, (THEWILL) – The Nigerian Economic Summit Group (NESG) has said that the nation’s real Gross Domestic Product (GDP) will grow by 3.2 percent in 2019.
NESG made this known in its 2019 Nigeria Economic Outlook report titled: “Steering Nigeria through the Inclusive Growth Pathway: What Strategy Should the Government Adopt?”, saying the growth will be driven by communication and technology, information and agriculture and sectors.
The annual report highlights economic forecasts for the nation and also offers short and medium-term forecasts on the main socio-economic factors, while exploring the pitfalls and improvements experienced in 2018.
According to the report, “Inflation will moderate at 11 percent in the year, largely as a result of increased agriculture outputs and a stable official exchange rate at N302/US$.
“Unemployment and underemployment rates will decline marginally to 21.5 percent and 20.5 percent respectively. Government revenue will also improve by 20 percent.”
Speaking on the details of the Macro Economic Outlook, The Chairman, Board of Directors, NESG, Asue Ighodalo, recommended the annual report as a tool for policymakers, academics, investors, the press and financial industry professionals, which will be widely used to inform policy dialogues and enhance operational efficiency of public and private institutions.
Also, The Chief Executive Officer, NESG, ‘Laoye Jaiyeola reiterated that the report examines the critical role of government in delivering broad-based economic growth, which is essential in opening up critical sectors for investments and enabling them to create jobs.