CBN Governor, Godwin Emefiele, who made the prediction during the 55th annual Bankers Dinner held in Lagos, noted that the expected economic growth was two percent.
He said with the sustained implementation of the country intervention measures, there expectations that the Nigerian economy could emerge from the recession by the first quarter of 2021.
The CBN boss also expressed optimism that growth in 2021 would attain 2.0 percent even if the downside risks remain as restoration of full economic activities, particularly in service-related sectors, remains uncertain until a COVID vaccine is produced and made available to millions of people across the world.
Emefiele’S remarks come 6 days after Nigeria’s economy slipped into another recession, the second of its kind in a space of four years.
According to a new report released by the Nigeria Bureau of Statistics on November 21st, the economy shrank again in the third quarter of this year.
Leave feedback about this