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Poll: Ebola won’t thwart Nigeria’s growth rate

August 28
20:57 2014

Nigeria’s economy is expected to remain strong despite the threat of Ebola outbreak and infrastructural challenges, a fresh poll by Reuters has indicated.

According to the poll, Nigeria alongside Kenya and Zambia, will experience substantial growth over the next two years.

This assessment contradicts a recent report from the African Development Bank (AfDB), which warns that Ebola is causing enormous damage to West African economies.

The new report may hold true since Nigeria has been able to adequately manage the Ebola outbreak, with number of victims reduced to only two.

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“The only way it would impact countries like Nigeria is if trade routes and ports were restricted, and so far that does not look like it is happening. As far as we know, there has not been a large multinational withdrawing staff,” said Alan Cameron, London-based economist at Nigerian stockbroker CSL.

“So far it looks like it has been reasonably contained, at least in Nigeria, so I think the impact for now is fairly minimal,” he added.

According to Euromonitor, a world leading provider for global business intelligence and strategic market analysis, Nigeria and six other African nations are among the fastest-growing economy in the world.

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Nigeria, which recently emerged as Africa’s fastest growing economy after its GDP rebasing, is expected to grow by 6.5 percent in this year and the next.

 

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