Subpar economic recovery seen piling more pain on Nigerian banks
Published 14 Oct,2020 via Bloomberg Markets - Nigeria’s economy is poised to expand at less than half the pace needed by banks next year to avoid a possible spike in unpaid loans.
The 2021 outlook for sub-Saharan Africa’s largest economy was cut to growth of 1.7% by the International Monetary Fund on Tuesday, compared with a June forecast of 2.6%. That’ll make Nigeria the fourth-worst performer among nations measured by the Washington-based lender in the region.
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Emele Onu