Despite COVID-19, Russia-Ukraine War, Nigeria’s Economy Continues To Grow – Buhari
President Muhammadu Buhari says despite the disruptions in global economy and internal troubles, the Nigerian economy has continued to be resilient and maintain an upward trajectory.
The president stated this at the inauguration of the Presidential Committee on the National Economy, on Friday in Abuja.
According to him, the COVID-19 pandemic, the war in Ukraine and the loss of substantial volumes of oil have had negative impacts on the Nigerian economy.
He said: “Starting with COVID-19 and now the conflict in Ukraine, the past three years have been turbulent ones for the global economy. Global interdependence has become more apparent as we have had to deal with volatility, uncertainty, complexity and ambiguity.
“In this period, challenges faced by the world have been many including: lockdowns as COVID-19 raged; disruptions to supply chains around the world, and sharp fluctuations in prices.
“Just as the world was beginning to recover from the coronavirus, the conflict in the Black Sea region between Ukraine and Russia worsened the challenges already being faced and created additional problems to which policy makers are having to respond.
“Our economy continues to grow despite the adverse effects of rising interest rates, a stronger US dollar and higher inflation across the world.”
