Nigeria’s economy is projected to grow to 3.3 per cent this year, while it may recede to 3.0 per cent in 2025.
In its latest World Economic Outlook report, ‘Steady but slow: Resilience amid divergence,’ the International Monetary Fund said that Nigeria’s economy is expected to better 2023 growth which was pegged at 2.9 per cent.
The outlook puts Nigeria’s consumer prices at 26.3 per cent for 2024 up from 24.7 per cent in 2023 and is expected to decelerate to 23.0 per cent next year 2025.
On sub-Saharan Africa, the report said: “In sub-Saharan Africa, growth is projected to rise from an estimated 3.4 per cent in 2023 to 3.8 per cent in 2024 and 4.0 per cent in 2025, as the negative effects of earlier weather shocks subside, and supply issues gradually improve.
“The forecast is unchanged for 2024 from the January 2024 WEO Update, as a downward revision to Angola owing to a contraction in the oil sector is broadly…
Source: Guardian Newspaper
