CFEX 10th June, 2022

Nigeria’s economy has posted GDP expansion for four quarters since its last recession recorded
in 2020. However, the current growth rate levels are unable to halt the steady decline in incomes
and the rise in poverty. Our in-house estimates assume GDP at current market prices as high as
pre-pandemic levels (2019). We considered increased vaccination rate, stable oil prices above
USD65/b and sustained growth in the major sectors, among other factors.