2024 Nigeria growth forecast remains at 3.3% due to service and trade sector growth, despite food price inflation and reforms.
The IMF retains its 2024 Nigeria growth forecast at 3.3%, up from 2.9% in 2023, due to an increase in services and trade sectors. However, the outlook remains challenging, with food price inflation at 40% in March raising food security concerns. Nigeria's President Tinubu has implemented reforms, including cutting subsidies and devaluing the naira, to raise growth and improve living standards.
May 09, 2024
3 Articles