According to the International Monetary Fund, geopolitical concerns might cause Nigeria to lose as much as $10 billion in foreign direct investment and official development assistance inflows.
The sum represents almost 5% of the country’s yearly Gross Domestic Product, according to the IMF’s national focus on Sub-Saharan Africa, which was published on Monday.
The institution with headquarters in Washington warned that losses might increase if cash transfers across trade blocs were interrupted due to geopolitical unrest.
It was also mentioned that the value of global trade in Sub-Saharan Africa might be affected by nearly half. After ten years, the region’s economy could see a permanent decline of up to 4% of its GNP, according to the IMF.