Nigeria’s 2024 Economic Growth Revised to 2.9% by IMF
The International Monetary Fund (IMF) has revised Nigeria’s economic growth forecast for 2024 downward to 2.9%, from an earlier projection of 3.2%.
This reduction is attributed to several factors, including high inflation, the impact of demonetization, and challenges in the agricultural and hydrocarbon sectors.
Despite this, the IMF remains optimistic that recent reforms introduced by President Tinubu, such as energy subsidy removal and exchange rate unification, could improve growth prospects moving forward.