Frequently referred to as the Giant of Africa, Nigeria is growing slower than its population and large numbers of people are poor. With gross national income per capita of US $2,100 (in 2017; Atlas method, WDI), Nigeria is classified as a lower-middle-income country. It is richly endowed, has a...

Industrial production and services growth remained resilient. Inflation has accelerated, primarily due to supply shocks. Monetary policy has been accommodative. Financial sector vulnerability is rising. With a tightening of prudential controls, lending rates are back to double digits. Despite...