The International Monetary Fund says Nigeria is expected to emerge from recession this year, with economic growth of 0.8 percent. But it warned that threats to recovery remained elevated, adding the economy will not grow enough to reduce unemployment and poverty. The IMF advised the Federal Government to pursue a policy of fiscal consolidation through higher non-oil revenues, to ensure stability in growth. Nigeria slipped into a recession last year as low crude oil prices and production slashed government revenues, caused dollar shortages and crippled the economy. The Fund says the government saw significant revenue shortfalls in the first half of the year, with interest payments remaining as high as 40 percent at the end of June.

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