Nigerian Canadian Newspaper Canada
For advert, please contact
publisher@nigeriancanadiannews.ca
1 (416) 318-3506
  • Home
  • World News
    • Africa
      • Nigeria
        • #EndSARS
        • #NigeriaDecides2019
        • Nigerian News
      • Ghana
    • North America
      • USA
      • Canadian News
    • Europe
  • Monthly Edition
  • Business
    • Business & Investment
    • Business News
    • Personal Finance
  • Government & Politics
  • Law
  • Opinion
    • Columnist
    • Editorial
  • Health
    • Canada Health
  • Lifestyle
    • Relationships
    • Technology
    • Religion
    • Sports
    • Beauty/Fashion
    • Family
    • Entertainment
    • Career
    • Food/Drinks
    • Home & Property
    • Social Phychology
  • Community
    • Churches
    • Events
    • Obituaries
    • Contact us
    • Archives
No Result
View All Result
  • Home
  • World News
    • Africa
      • Nigeria
        • #EndSARS
        • #NigeriaDecides2019
        • Nigerian News
      • Ghana
    • North America
      • USA
      • Canadian News
    • Europe
  • Monthly Edition
  • Business
    • Business & Investment
    • Business News
    • Personal Finance
  • Government & Politics
  • Law
  • Opinion
    • Columnist
    • Editorial
  • Health
    • Canada Health
  • Lifestyle
    • Relationships
    • Technology
    • Religion
    • Sports
    • Beauty/Fashion
    • Family
    • Entertainment
    • Career
    • Food/Drinks
    • Home & Property
    • Social Phychology
  • Community
    • Churches
    • Events
    • Obituaries
    • Contact us
    • Archives
No Result
View All Result
Nigerian Canadian Newspaper Canada
No Result
View All Result
Home Africa

Nigeria's economy will fully recovery in 2019 — PwC

NigerianCanadianNews by NigerianCanadianNews
September 10, 2017
in Africa, Government & Politics, Law, News, Nigeria, Nigerian News
0 0
0

The PricewaterhouseCoopers Nigeria has predicted a full economic recovery in the country by 2019.
According to analysts at the multinational consulting firm, empirical evidence suggests that it takes one year for real Gross Domestic Product to recover to the pre-recession level.
In a report on Friday,  the analysts led by the Partner and Chief Economist, Andrew Nevin, said it was expected that the economy would expand gradually for the next five years or more.

However,  it noted that the economic growth was dependent on policies and reforms of the government.
“We expect real GDP to attain full recovery by 2019, with growth moving closer to its long-term trend of 6.7 per cent, “ it said.
The National Bureau of Statistics’ second quarter Gross Domestic Product report indicated that the country had come out of recession, recording 0.5 per growth after experiencing negative growth for more than a year.
The report stated that the recovery was supported by a strong rebound in the oil sector which contributed 8.8 per cent to the GDP. In the non-oil sector, the economy was boosted by the strengthening of the manufacturing sector, reflecting the impact of improved foreign exchange liquidity.
“After the economy bottoms, it could take about a year for real GDP to recover to pre-recession levels. Subsequently, the economy expands for a period, which could often exceed five years, depending on the structure of the economy and the reforms implemented,” PwC Nigeria, said.
The firm cited the  economic contraction the country experienced in 1991 as an example,  saying  Nigeria recovered to pre-recession levels after one year and experienced positive growth for another 24 years.
It explained that the subsequent years of boom was influenced by a combination increased oil revenue, a maturing political system, as well as accelerated reforms, which opened up the economy for sustainable growth.
The analysts said that Nigeria was on track to attain the estimated real GDP of 0.7 per cent in 2017 given that they had predicted that the economy would expand by 1.8 per cent year on year in the third quarter and 1.1 per cent year on year in the fourth quarter.
PwC Nigeria said,  “Empirical evidence suggests the economy is set for another long period of growth. Our 2017 GDP forecast remains unchanged at 0.7 per cent year on year.
“We think this is plausible, given our expectation of a strong harvest season and sustained forex liquidity, which should support a broad-based economic recovery. Risks to our forecast include a decline in oil price and production, and policy disruptions, which could hamper investment flows to the economy.”

Post Views: 177
Tags: NigeriaPwC
ShareSendShareSend
NigerianCanadianNews

NigerianCanadianNews

Related Posts

Police arrest Eze Igbo threatening to invite IPOB to Lagos
Nigerian News

Police arrest Eze Igbo threatening to invite IPOB to Lagos

April 1, 2023
Portable arrested, to spend the weekend in police custody
Celebrity Gossip

Portable arrested, to spend the weekend in police custody

April 1, 2023
Law

Whitney: Lagos State Govt Arraigns Chrisland School And Four Others For Manslaughter

March 31, 2023
Next Post

Updated: Two female bombers killed in Borno state

Bayelsa state government commences the demolition of illegal structures

Please disregard reports saying vote Osinbajo 2019- Media aide speaks

April 2023
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930
« Mar    

Health

Lifestyle

Community

Sports

Worldwide

Contact Us

Quick Link

  • Home
  • Advertise
  • Careers
  • Monthly Edition
  • Home & Property
  • World News

Recent News

  • Police arrest Eze Igbo threatening to invite IPOB to Lagos April 1, 2023
  • Mississauga and Brampton police vehicle wins national contest for vehicle graphics April 1, 2023
  • Portable arrested, to spend the weekend in police custody April 1, 2023

© 2023 Nigerian Canadian Newspaper Canada. Powered by NASCI.

No Result
View All Result
  • World
    • Africa
      • Nigeria
    • North America
      • Canadian News
      • USA
  • Monthly Edition
  • Business
    • Business & Investment
    • Business News
    • Personal Finance
  • Government & Politics
  • Law
  • Opinion
    • Columnist
    • Editorial
  • Health
  • Lifestyle
    • Religion
    • Technology
    • Sports
    • Beauty/Fashion
    • Relationships
    • Food/Drinks
    • Home & Property
  • Community
    • Events
    • Churches
    • Obituaries

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Cleantalk Pixel
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT