The International Monetary Fund (IMF) has forecast a four per cent growth rate for Nigeria’s Gross Domestic Product (GDP) in 2015, as the country continues to contend with the challenge of declining income from the drop in crude oil prices.

The latest growth forecast by the fund is 2.25 percentage points lower than its last year’s projection for Nigeria.

The multilateral donor agency stated this in its 208-page World Economic Outlook (WEO) titled, “Adjusting to Lower Commodity Prices”, released on Wednesday.

In the 2015 budget, the federal government had initially forecast a real GDP growth rate of 6.4 per cent in 2015 but was forced to slash it to 5.5 per cent owing to declining oil prices.

Oil accounts for the bulk of government revenue in Nigeria, but global crude prices have more than halved over the past one year.

Continuing, the IMF stated that it anticipated growth in sub-Saharan Africa to also slow this year to 3.8 per cent, from five per cent in 2014.

Similarly, it forecast that growth in low-income developing countries would also fall to 4.8 per cent this year, more than one percentage point weaker than in 2014, before picking up to 5.8 per cent in 2016.
http://www.thisdaylive.com/articles/imf-cuts-nigeria-s-gdp-growth-forecast-to-4-/222180/

So the IMF still thinks there will be some sort of growth??

Crazy people - just hope they are stockpiling some cash for Nigeria's own bailout!

The bad news just keeps flowing, unabated.

this must be a joke!

this isbmust be a joke!

If they like, let they forecast it to zero, we already moving on

Jesusloveyou:
If they like, let they forecast it to zero, we already moving on

This is the kind of blind support that has held Nigeria back.

You are suffering and still praising the cause of your problems instead of crying out in protest.

eaglechild:

This is the kind of blind support that has held Nigeria back.

You are suffering and still praising the cause of your problems instead of crying out in protest.

hehehehehe, see hypocrite, how many times have u protest for ur clueless corrupt gej 6yrs of failure, what wil u protest for now, or is it not d consequences of d past 6yrs or 16yrs of bad govt of ur clueless corrupt ogogoro hero and ur fail party pdp, from 2016 that wil be d beginning of change, d wind of change wil blow to imf

What do you expect from Madam puff puff ex ministers pay slave master. Abeg let them cut who cares we don't need them !!!

When somebody forged his o level result and still inserted f9 in maths and economics.. den u know he is mentally deranged but guess wat here in Nigeria he is termed a messiah

Islamic pseudo economists like Sanusi L Sanusi and co who don't understand the importance of free market economy want to force 1 naira to 1 dollar, because Buhari said so. They will regret not having professionals like Okonjo Iweala on their team soon.

Sunofgod:
So the IMF still thinks there will be some sort of growth??

Crazy people - just hope they are stockpiling some cash for Nigeria's own bailout!

JP Morgan, Barclay and now IMF ...

Recession loading already

Serial decline in every sector since ANCESTOR buhari took over.
He is teaching Nigerians the consequences of making a bad choice..

TheFreeOne:
JP Morgan, Barclay and now IMF ...

Recession loading already

I will make 1 naira=1$

So what have this man been doing in office all this while. Order than to .......

We have been deceived of so many things in life. Thank God for some iconoclasts who have, times without number, proven many age-long beliefs wrong.
For instance many of us are in school because we want to become rich but many people have abandoned school and have gone on to be enlisted on the annals of the world richest.http://www.mytopbusinessideas.com/school-drop-out-billionaires-successful-entrepreneurs/.

In this country we have had our economy managed by Ivy-league trained and world renown technocrats. We have received several pass-marks from reputable global bodies yet our poverty line has remained unperturbed.

As a nation we need to start looking at home-grown solutions to our domestic problems; what are the basic needs of our people to reduce poverty, and stimulate healthy economic well-being among our people.

For instance between 2007 and 2015 Fashola and Akpabio, arguably, have been rated as the most-outstanding among their peers ; both of them are home-grown.

World-Bank, IMF,JP-Morgan and similar bodies were founded by the world powers and I doubt if their primary interests include taking Nigeria to an enviable position on the world stage. Only a Nigerian can feel the pains of Nigerians and do something about them. We should consider secondary the figures being reeled out by these global bodies on our economy.

Our economic well-being should be measured on the practical impacts and indices, of government policies, on our people. Power supply has considerably improved, virtually, everywhere in Nigeria while many businesses are also finding it difficult to adjust to the new government policies - these are examples of economic reality of today Nigeria. The new government should strive to consolidate on the observed gains of decisions taken so far while challenges thrown-up should be reviewed to achieve desirable results.

We should stop looking out for donations or directions from Big-Brothers. They have their own interests, which may not necessarily be in consonance with our own decision to improving the economic well-being of our people.

Buhari , an economic bulwark, a master financial analyst
and the stabilizer of the world economy will fix the economy
with his body language.
Sai Baba

lincolnj88:

When somebody forged his o level result and still inserted f9 in maths and economics.. den u know he is mentally deranged but guess wat here in Nigeria he is termed a messiah

Abeg, na who be that?

Sunofgod:
So the IMF still thinks there will be some sort of growth??

Crazy people - just hope they are stockpiling some cash for Nigeria's own bailout!

This is so hilarious and scary

TheFreeOne:
JP Morgan, Barclay and now IMF ...

Recession loading already

Let the daura dulllard continue to be finance minister or hand it to some of his illiterate abooki cronies.
They should ruin Nigeria quickly abeg...

I know someone who is into chemicals importation business, he has not done any chemical importation since June due to unbearable policies of this government. Even custom revenue is in the reverse gear due to people are not importing much again.Banks are sacking,the same with some oil firms.Nigerians are really suffering under this government. It is well. But l see light at the end of this dark tunnel.

Jesusloveyou:
hehehehehe, see hypocrite, how many times have u protest for ur clueless corrupt gej 6yrs of failure, what wil u protest for now, or is it not d consequences of d past 6yrs or 16yrs of bad govt of ur clueless corrupt ogogoro hero and ur fail party pdp, from 2016 that wil be d beginning of change, d wind of change wil blow to imf

This is October 2015 and you are still blaming GEJ.

You need help.

Mogidi:
The bad news just keeps flowing, unabated.

In the fullness of time PMB's body language will ensure the bad news ''CHANGES" to good news...

Jesusloveyou:
hehehehehe, see hypocrite, how many times have u protest for ur clueless corrupt gej 6yrs of failure, what wil u protest for now, or is it not d consequences of d past 6yrs or 16yrs of bad govt of ur clueless corrupt ogogoro hero and ur fail party pdp, from 2016 that wil be d beginning of change, d wind of change wil blow to imf

The bolded is the definition of dumbness, i suggest you read the post again and try to understand what the post is about...SMH

Jesusloveyou:
If they like, let they forecast it to zero, we already moving on

I have noticed that it's only unintelligent folks that lay support to buhari and turn a blind eye to his ignorance. Eg; fulani herdsmen etc

na wa o.. all this financial institutions just dey downgrade this country under this govt.

bonechamberlain:
na wa o.. all this financial institutions just dey downgrade this country under this govt.

Body odour will fix it.

eeeeeee:
Body odour will fix it.

hmm are u sure

bonechamberlain:
hmm are u sure

He has fixed everything from Boko Haram to employment, good roads, constant power supply etc.

Nigeria is now perfect thanks to his body odour.

eeeeeee:


He has fixed everything from Boko Haram to employment, good roads, constant power supply etc.

Nigeria is now perfect thanks to his body odour.

President Buhari, could you please stop the talking and start the working?