Abuja - Nigeria's economy is expected to grow slightly
faster this year than in 2012, driven by progress in the agriculture, banking
and oil sectors, while high inflation rates should ease slightly, data showed
Growth in Africa's second biggest economy is forecast at
6.75% compared with an estimated 6.61% in 2012, an outlook from the national
bureau of statistics (NBS) said.
"Energy reforms ... banking sector, agricultural
reforms and oil sector reforms are expected to drive higher growth during the
period (2013-2016)," the report said.
GDP should expand by an average of 7.2% next year, 6.9% in
2015 and 6.6% in 2016, it said, adding that the projections assumed no change
to monetary policy, stable fuel prices in the continent's biggest oil producer
and a stable external environment.
It expected headline inflation to ease to 9.76% this year
from 11.98% in 2012, when the removal of a fuel subsidy and flooding pushed
Consumer inflation eased to 9% year-on-year in January from
12% in December, dropping within the central bank's single-digit target range.
The bank's governor said last week that he was in no hurry
to cut interest rates even if inflation fell.
Food price inflation, the biggest contributor to the
headline index, eased to 10.1% in January from 10.2%, NBS statistics showed.
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