The International Monetary Fund on Wednesday warned that Nigeria remains vulnerable despite slowly exiting recession since its growth is tied to oil prices and improved revenues are restricted to the energy and agriculture sectors. The assessment, published in a report on Wednesday, came in the IMF’s Article IV consultation, an annual appraisal of a country’s economy. Reuters had reported on the lender’s findings last week after seeing a copy of the document, which states that the fund expects Nigeria’s government to “muddle through” in the medium term. Nigeria emerged in the second quarter of 2017 from its first recession in 25 years, largely caused by low crude prices and militant attacks on energy facilities. Higher oil prices and an end to the attacks mostly account for the end of the recession. Crude oil sales make up around two-thirds of government revenue and the […]