Nigeria’s economy seen shrinking in first three months – KPMG chief economist

Yemi Kale, partner and chief economist at KPMG Nigeria estimates a reduction in Q1 ‘2023 nominal GDP by between N10 to N15 trillion due to challenges sourcing cash in the first quarter of 2023.

“This because about 40 percent of Nigeria’s N198 trillion GDP in 2022 is informal of which about 90 percent is cash based,” Kale said.

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