Higher Oil Prices’ll Drive Nigeria’s Economy By 2.5% In 2022 – World Bank
The World Bank has projected a 2.5 % economic growth for Nigeria in 2022, and 2.8% by 2023 as the price of oil skyrocket
According to World Bank, the forecast is a slight upward review from the estimated 2.4% growth in 2021.
Higher oil prices and activities in the service sectors, such as telecommunications and financial services, will drive this growth slightly upward
It also predicted that per capita income is expected to be lower in 2022 than a decade ago in countries like Angola, Nigeria, and South Africa.