Nigeria’s economy is set to grow from 3.0 per cent in 2022 says IMF

Nigeria’s economy is set to grow from 3.0 per cent in 2022 to 3.2 per cent in 2023 due to measures made to address insecurity in the oil sector.

According to the money lender, its January forecast is a lot less gloomy than its October forecast and could hint at a turning point, with growth bottoming out and inflation declining.

“Inflation, too, showed improvement, with overall measures now decreasing in most countries—even if core inflation, which excludes more volatile energy and food prices, has yet to peak in many countries. Recently, the United Nations projected that a robust commodities trade and dynamic consumer goods and services markets would push Nigeria’s economic growth to three percent in 2023.

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