Falling oil prices and increased instability in the north impacted Nigeria’s economic increase in 2014 Nigeria Year in Review 2014| glObserver Global Economics


Falling oil prices and increased instability in the north impacted Nigeria’s economic increase in 2014, though a rebasing of GDP means that whoever wins the forthcoming presidential elections in 2015 will take the helm of Africa’s major economy.

Source: globserver.cn

The outlook for one of Africa’s biggest oil producers has as well darkened with the currency falling by 13% during 2014 according to Thomson Reuters data, risking an increase in inflationary pressures. Inflation stood at 7.9% in November, though the figure for the full year could rise with the falling price of the naira pushing up the cost of imports, particularly food and petroleum products.

See on Scoop.itglobserver africa

Author: globserver

Director of Eyecom china

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s