The World Bank on Monday said Nigeria‘s economy has been slipping since 1995 till 2018.
The bank made this known in its latest report on the regional economy titled, Africa’s Pulse.
In the report, Nigeria was ranked in the bottom tercile alongside South Africa and 17 other countries saying their economies did not show any progress in growth performance.
Read World Bank’s report below:
The bottom tercile consists of 19 countries: Angola, Burundi, Botswana, the Republic of Congo, the Comoros , Gabon, Equatorial Guinea, Liberia, Lesotho, Mauritania, Malawi, Namibia, Nigeria, Sierra Leone, Eswatini, Chad, South Africa, Zambia, and Zimbabwe. These countries did not show any progress in their economic performance from 1995–2008 to 2015–18. For instance, their median economic growth rate decelerated, from 5.4 per cent per year in 1995–2008 to 1.2 per cent per year in 2015–18.