Nigeria's economy grown by 2.6 per cent says IMF

The federal government of Nigeria has said it is optimistic of a modest recovery from recession and growth in the economy, as the International Monetary Fund, IMF, predicted a 2.6 per cent growth in the economy in 2017.Nigeria has witnessed a mixed fortune in her earnings from oil in the last three years either as a result of cuts in production in the wake of attacks on oil production facilities by militants in the Niger Delta region, or massive drop in crude oil prices at the international market.

From an average of 2.1 million barrels per day in 2013, production was cut by almost half by 2015, before gradual improvement in capacity to about 1.7 million barrels per day last year. The federal government recently announced production has increased to about 2 million barrels