2010: IMF Predicts Economic Slide In Nigeria

An International Finance Organisation, the International Monetary Fund (IMF) has predicted a slide in the economic growth of Nigeria. In its latest report, the IMF says that Nigeria’s economic growth would continue to slide next year.

   The report said many factors would continue to weigh on consumption and investment in Nigeria well in 2010.

However, a member of the National  Economic  Intelligence Committee (NEIC) Ayo Teriba has dismissed the report, saying that it is cosmetic, since it has not in practical terms, fully considered the Nigerian unique characteristics in consumption pattern as well as in investment.

It would be recalled that the global economic meltdown, which is currently biting the nations of the world was earlier predicted and reported late last year, even before it became well known.

The Nigerian Police Force (NPF) on their part, earlier this year 2009 alerted the public on the consequences of the economic meltdown in terms of crime rate in the country.

The Police has said that a lot of Nigerians, particularly those in the business world would resort to various crimes, so as to make ends meet in the cause of executing businesses.

Corlins Walter