IMF Expects Nigeria's Inflation to Ease to 26 Percent

The International Monetary Fund expects Nigeria ’s inflationary pressure to ease to 26 percent this year.

Inflation has remained a major challenge for Nigerians and continues to worsen the operations of businesses in the country.by 400 basis points — the largest in recent years — to 22.75 percent on February 27.the monetary policy rate by an additional 200 basis to 24.75 percent. However, speaking during the press conference, Daniel Leigh, division chief of the research department at IMF, said inflation would drop in Nigeria alongside global inflationary pressures estimated to decline from 2.8 percent at the end of 2024 to 2.4 percent at the end of 2025.“Growth in Nigeria steady, but actually rising this year from 2.9 percent last year to 3.3 percent this year,” Leigh said.

“So, there’s a broad-based increase also in the financial sector in the IT sector. Inflation Yes, it has increased. Part of this reflects the reforms in the exchange rate. So this explains also why we revised our inflation projection for this year at 26%.

IMF Nigeria Inflation Economic Growth Global Projections

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