‘Policies, elections, oil prices to determine 2019 growth outcome’
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Experts in the financial services industry said that regulatory and policy choices , forthcoming general elections , and some global economic developments , particularly crude oil pricing are important to determining Nigeria ’ s growth expectations in 2019 .
The experts said this during a Breakfastl Session , organised by the Nigeria – British Chamber of Commerce (NBCC ), in Lagos and discussed about the situation of Nigeria ’ s economy.
They emphasized the need for good monetary and fiscal policy regulatory environment in Nigeria's in order to achieve a favourable growth.
Meanwhile, the Chief Executive Officer , Rand Marchant Bank Nigeria ( RMBN ) Stockbrokers Limited , Abiola Adekoya also stressed the importance of a successful general election in 2019 adding that this will improve economic growth.
In the same vein, a renowned economist , Doyin Salami, has expressed optimism that Nigeria ’ s economy could grow by 2 . 5 per cent noting that this is dependent on a successful election.
He also said that the economic growth may fall below 1 . 5 per cent if the elections is unsuccessful.
According to him , there might be a 2 . 5 per cent rise on inflation at the end of 2019 if the elections do not go well,, noting that the nation’ s cost recovery on fuel would be a problem if production numbers remain stagnant.
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