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Country Economic Forecast - Nigeria

Publisher Oxford Economics
Published Feb 14, 2023
Length 6 Pages
SKU # OFE17726040

Description

Country Economic Forecast - Nigeria

Nigeria has regained the title of 'Africa's largest oil producer' thanks to recovering oil production towards the end of last year. Output rose by 7.0% m/m to an average of 1.23 million barrels per day (bpd) in December due to successful efforts to repair oil infrastructure and expel illegal refineries. Overall, production declined from 1.31 million bpd in 2021 to a four-decade low of 1.15 million bpd in 2022, but is forecast to recover to an average of 1.3 million bpd in 2023.

Table of Contents

6 Pages
Nigeria: Looming elections elevate risks
Forecast overview
Recent developments
Short-term outlook
Key drivers of our Short-term Forecast
Economic risk
Economic risk evaluation
Background
Economic development
Structure of the economy
Balance of payments
Policy and politics

Pricing

Currency Rates
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