Explained: Why Fitch cut Nigeria’s 2021 growth forecast despite oil rally

Explained: Why Fitch cut Nigeria’s 2021 growth forecast despite oil rally

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Global credit ratings agency, Fitch, has overlooked the rally in oil prices and lowered its economic growth forecast for Nigeria in 2021, at a time when most would have increased their growth projections for Africa’s largest oil producer. Fitch cut its 2021 growth forecast for Nigeria to 1.6 percent, from its previous expectation of 2.3…

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