Nigeria’s Economic To Decline Between 2023 – 2024 – IMF
The International Monetary Fund has projected that Nigeria’s economic growth will decline in 2023 and 2024 due to security issues in the oil sector.
It stated that the country’s economy would grow at 3.2 per cent in 2023, before declining to 3.0 per cent in 2024.
The IMF disclosed this in its latest ‘World Economic Outlook Update: Near-Term Resilience, Persistent Challenges (July 2023)’ report.
Nigeria’s growth is below projections for the Sub-Saharan African region which is expected to grow by 3.5 per cent in 2023 and 4.1 per cent in 2024, according to the report.
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