In what may be a justification for the unpredictability of the forthcoming general elections in the country, which come up on February 16, 2019, the International Monetary Fund (IMF) has cut Nigeria’s Gross Domestic Product (GDP) projection for 2019 to two per cent. It originally predicted a 2.3 per cent before its latest U-turn.
The fund stated this in its World Economic Outlook (WEO) update titled, “A Weakening Global Expansion,” released on Monday. It noted that emerging market and developing economies had been tested by difficult external conditions over the past few months amid trade tensions, rising US interest rates, dollar appreciation, capital outflows, and volatile oil prices. But analysts attributed the prediction on the coming general elections, which the world believed would be volatile going by the undue hatred leading political parties especially the Peoples’ Democratic Party (PDP) and All Progressive Congress (APC) are going about their campaigns