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The International Monetary Fund, IMF said that Nigeria’s economy will contract by 3.4% in 2020, but rebound with 2.4% growth in 2021.
The IMF made this projection in its latest edition of the World Economic Outlook just released at the ongoing Spring Meeting in Washington.
Meanwhile, the European Union has given Nigeria a grant of €50 million to fight COVID-19.
The grant was announced by the Head of EU delegation in Nigeria, Ambassador Ketil Karlsen, at a meeting with President Buhari in Abuja.
The Special Adviser to the President on Media and Publicity, Femi Adesina, also confirmed this in a tweet on Tuesday.
Adesina said “EU gives Nigeria a grant of 50 million Euro to fight Covid-19. Head of EU delegation, Amb Ketil Karlsen, at the event commended President Buhari for “your powerful address to the nation last night,” and for “the bold and necessary measures you’ve taken.”
