Nigeria revises down 2017 economic growth forecast to 1.5 pct from 2.19 pct – document

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    Godwin Okafor

    ABUJA, Oct 19 – Nigeria has revised down its forecast for 2017 economic growth to 1.5 percent from 2.19 percent, according to a document seen by our correspondent on Thursday.

    Oil production, on which Nigeria relies for about two-thirds of government revenues, was at 1.9 million barrels per day for 2017, as of July, against an estimated 2.2 million barrels per day, said the document.

    Titled “The 2018-2020 Medium Term Expenditure Framework and Fiscal Strategy Paper”, the document was prepared by the Ministry of Budget and National Planning and is dated August 2017.

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    Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA). He currently lives in Manhattan New York

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