LCCI projects 3% GDP growth for 2018

Image result for lagos chamber of commerce and industryThe Lagos Chamber of Commerce and Industry has projected the country’s GDP growth to rise by three percent in 2018.

The Chamber made this projection in a statement signed by the Director General of LCCI, Muda Yusuf .

The chamber projects oil price to average around $50 per barrel; External reserve to hit $40 billion mark; and headline inflation at 13 per cent.

Muda said for the country to sustain the present recovery and achieve the growth forecast, there is need for aggressive investment in infrastructure to boost productivity in the economy.

He noted CBN’s periodic intervention in the forex market reduced exchange rate volatility over the last two quarters of 2017 and businesses showed improved liquidity of forex and stability of naira against the dollar.

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