For four straight years, Nigeria’s budget has promised growth that never arrived. Fresh data shows assumptions on GDP, inflation, exchange rates, and oil production repeatedly diverged from reality, revealing not just forecasting errors but structural weaknesses in the economy.
Figures from the November Lagos Business School Breakfast Session illustrate the mismatch. In 2023, the government projected GDP growth of 3.75 percent. Actual growth barely reached 2.45 percent, weighed down b
For four straight years, Nigeria’s budget has promised growth that never arrived. Fresh data shows assumptions on GDP, inflation, exchange rates, and oil production repeatedly diverged from reality, revealing not just forecasting errors but structural weaknesses in the economy.
Figures from the November Lagos Business School Breakfast Session illustrate the mismatch. In 2023, the government projected GDP growth of 3.75 percent. Actual growth barely reached 2.45 percent, weighed down b
