‘Nigeria to Maintain Positive Macro-Economic Indices in 2013’

28 Dec 2012

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Vice President  Namadi Sambo

Economic analysts have predicted that the Nigerian economy will maintain positive macro-economic indices in 2013.
According to a report, the analysts   said   Nigeria would see higher growth, higher equity valuations, robust reserves accretion, firm oil prices and slightly lower inflation next year.

They said the nation’s Gross Domestic Product (GDP) growth is expected to recover moderately to above 7.0 per cent in 2013 from 6.6 per cent in 2012, with FBN Capital forecasting 7.3 per cent real GDP growth next year.
Data from the Central Bank of Nigeria (CBN) showed Nigeria’s foreign reserves which has moved in tandem with higher oil prices up to 34.9 per cent, reaching $44.340 billion as at December 21, 2012.
FBN Capital forecasts foreign reserves to close 2013 at $48 billion, up by 9 per cent from its current levels.
On her part, Renaissance Capital, Sub-Sahara Africa Economist, Yvonne Mhango said that the naira would close slightly down at N161 per dollar at year end 2013.

“Inflation is expected to reach single digit in the first quarter of 2013 on the back of high base effects in the data time series, but to drift higher later in the year and average 11.4 per cent in 2013, from a twelve month average change of 12.1 per cent as at November 2012,” the report stated.

Tags: Business, Nigeria, Featured, Macro-Economic, 2013

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