In the wake of the coronavirus, the IMF lowers its growth forecast for Nigeria

IMF representatives, on a mission to Nigeria from 29 January to 12 February, confirmed that the coronavirus epidemic in China will affect global oil demand and thus the growth of Africa’s leading economic power, which is heavily dependent on black gold exports. In fact, oil prices fell below $57 a barrel on Tuesday, down 11% since the beginning of the year. As a result, the international financial institution lowered, at the beginning of the week, its growth forecasts for Nigeria to 2% this year against 2.5% previously expected.