Nigeria needs to increase GDP growth from 2 percent to about six or seven percent for it to arrest declining per capita in the near future. This was revealed by Alderman Charles Bowman, Lord Mayor of the City of London Corporation, in a round-table session with Nigeria’s co-creation hub and EFInA last week. “To ensure the opportunity is harnessed (to increase growth), the economic engine needs to shift up a gear or two,” he said. To do this, Nigeria needs to create about 3 to 4 million new jobs each year.
A rapidly growing population, the high number of poor people in the country, and slow economic growth imply that per capita indices for Nigeria will be dreary if adequate measures are not put into place to increase GDP.
Below is the Ventures Africa Weekly Economic Index, for the week ending 6th of July 2018. This economic index gives you a glimpse into other recent activities in Nigeria’s economy as well as changes and prices that could affect the economy:
Nigerian Stock Exchange
Data revealed by the Nigerian Stock Exchange (NSE), as of 6th July 2018, showed that the All-Share Index depreciated by 1.71 percent from the previous week ending 29th June Click here to read entire article
Source:: Ventures Africa