The managing director of the International Monetary Fund, Christine Lagarde, has stated that the economy of some West African nations, including Nigeria, is not growing at the same rate as its population.

She made this statement on Thursday while addressing the press at the ongoing International Monetary Fund annual meetings holding in Washington.

She said, “Sub Saharan Africa (which Nigeria is part of one) is one region of the world where growth is way sub-optimal. Those countries 2.5 percent. That is too low for the demographic expansion of the region.

“There are different countries if we are to look Rwanda it is a different situation from that of Togo and Ghana is going to be different from Mozambique and so on.

“It is still to low for the demographic growth. For that region to take advantage of the demographic dividend of all the young people who are coming up and trying to have access to the economy and have a job, it is too low.”

Lagarde said the organisation would engage commodity-dependent countries on building up their buffers as such countries are not faring as well as countries with diversified economies.

“We are engaging them in the direction of stabilising; for those that are doing well, build up their buffers and more importantly, diversify the sources of their economic growth.

“What we observed is that those that are heavily commodity dependent are faring less well than those that are well diversified,” she stated.

SOURCE: https://brandspurng.com/nigerias-population-growing-faster-than-its-economy-imf/

We're too good in that direction.

why wont it be when my 7 neighbors have 5 children each

lol

Nigerian... Good people, Great Nation! We are nt overpopulated but we need to be redeveloped,restructured and reunited.

Nigeria my country. I salute.....

wamiikechukwu:
why wont it be when my 7 neighbors have 5 children each

lol

wamiikechukwu:
why wont it be when my 7 neighbors have 5 children each

lol

We once had the best economy in Africa in 2014.

History

here for the comments.