PricewaterhouseCoopers (PwC) projects higher inflation and continued volatility in the foreign exchange (FX) market in August.
In its recently released report titled ‘Nigeria Economic Outlook’, the professional services firm said petrol subsidy removal and the adoption of a managed float exchange rate system is expected to mount additional pressure on inflation.
“Possible increase in crude production due to likely improved security architecture in the oil-producing regions.” PwC said continued inflationary growth and rise in the cost of living may slow real economic growth in the medium term.
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