Business
IMF Forecasts Higher Economic Growth For Nigeria

The International Monetary Fund (IMF) has projected an economic growth of 2.5 per cent for Nigeria in 2021.
This is higher than the 1.5 per cent IMF’s 2021 forecast earlier announced for the country in January.
The Washington-based institution made this known in its April World Economic Outlook report obtained, yesterday.
Nigeria exceeded recession as its Gross Domestic Product (GDP) recorded a slight growth of 0.11 per cent in the fourth quarter of 2020, according to figures from the National Bureau of Statistics (NBS) revealed in February, 2021.
The organisation also forecast a 3.4 percent growth for the Sub-Saharan Africa region in 2021.
This is 0.2 per cent higher than the previous forecast for the region.
Part of the report read, “Following a sharp drop in 2020, only a mild and multispeed recovery is expected in Latin America and the Caribbean in 2021. Thanks to the global manufacturing rebound in the second half of 2020, growth exceeded expectations in some large exporting countries in the region (for example, Argentina, Brazil, Peru) bringing the 2021 forecast to 4.6 percent (a 1 percentage point revision).
“The longer-term outlook continues to depend on the path of the pandemic, however. With some exceptions (for example, Chile, Costa Rica, Mexico), most countries have not secured enough vaccines to cover their populations.
“Moreover, 2021 projections for the tourism-dependent Caribbean economies have been revised down by 1.5 percentage points to 2.4 percent. The pandemic continues to exact a large toll on sub-Saharan Africa (especially, for example, Ghana, Kenya, Nigeria, South Africa).
“Following the largest contraction ever for the region (–1.9 percent in 2020), growth is expected to rebound to 3.4 percent in 2021, significantly lower than the trend anticipated before the pandemic. Tourism-reliant economies will likely be the most affected.”
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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