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Nigeria population figures not accurate-UNFPA

The United Nations Population Fund's (UNFPA) Assistant Representative in Nigeria, Osaretin Adonri, has said the Nigerian population figures are speculative, projected and not accurate. The country is long overdue for a census, which would dismiss the catalogue of speculative population figures.  The 2006 population census conducted puts Nigeria’s population at 140,003,542 while the National Bureau of Statistics (NBS) 2012 data estimated Nigeria’s population to be 166.2 million. “Nigeria needs a census for population accuracy and effective planning,” Adonri said.  According to the UNFPA 2019 State of the World Population report, Nigeria’s population has increased to 201 million, having grown at average rate of 2.6 per cent from 2010 to 2019. Credit: Financial Nigeria
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Nigeria Economy is recovering - IMF



Photo credit: gurdianng

- According to the report of the IMF 2019  Article IV consultation with Nigeria, the Nigerian economy is recovering.
- The Executive Board of the  International Monetary Fund (IMF) concluded Article IV consultation on March  27, 2019.
The Executive board reports that
- Real GDP increased by 1.9% in 2018, up from 0.8% in 2017 as a result improvements in manufacturing and services, supported by spillovers from higher oil prices, ongoing convergence in exchange rate and strides to improve business environment.
- Headline inflation fell to 11.4% at the end of 2018 as a result of declining food price inflation, weak consumer demand, relatively stable exchange rate and tight no monetary policy during most of 2018, but remains outside the central bank's 6-9%.
- Holdings of mostly short-term equity and local debt.
- Current account surplus.
- Gross international reserves got to its peak in April 2018.
- However, the economy growth is being constrained to level below those needed to lessen poverty and improve weak human development due to persisting structural and policy challenges.
- factors such as low revenue mobilization, large infrastructural gap, governance and institutional weaknesses, foreign exchange restrictions are identified to be dampening long term foreign and domestic investment.
- Executive Directors welcomed Nigeria's ongoing economic recovery and thereby noted that however, the medium-term outlook remains muted, with risk tilted to the downside. 
- They also noted that long term standing structural and policy challenges be tackled more decisively to reduce vulnerabilities, raise per capita growth and bring down poverty 
- Also, authorities should double their reform efforts, and support their intention to accelerate implementation of their Economic Recovery and Growth Plan.

Get full report from IMF website




Source: allafrica.com


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