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IMF considers review of Nigeria’s growth projection, EndSARS protest
By Modupe Shodeinde
The International Monetary Fund has said the effect of the EndSARS protest on Nigeria’s economy may necessitate a review of the country’s growth projection.
The Director, African Department, International Monetary Fund, Abebe Selassie, said Lagos is a significant economic hub with a large contribution to the economy in Nigeria and developments in the protest will determine a lot.
On Thursday, at an IMF virtual press conference, Selassie said “On the growth projections in Nigeria, I mean, these protests happened of course, after we had closed, after the period where the data we looked at in making the growth projections for this economic outlook.
“And much will depend really on how these protests evolve.
“So, if these persist and are showing significant effects on economic data, we will internalise them in due course.”
According to him, in the last four years, the decline in the prices of oil has affected the economy with a resultant effect on the standards of living.
He added that the government has to generate revenue through other sources apart from the oil sector, like investing in health education, to improve the economy.
