As it stands, the federal government would need to ensure the coordination of monetary and fiscal policies with a focus on restoring value to the system and reducing inflation; a step, economic experts say is critical for the economy to recover and witness sustainable growth . Those who belong to that school of thought base their argument on the fact that economic growth should be higher than population growth for a meaningful impact on wealth and job creation across the board.
The nation’s economy grew 2.54 per cent in the third quarter of 2023, according to the National Bureau of Statistics (NBS). CFG Advisory, Tilewa Adebayo, said in a 2024 economic review. Most experts say the nation’s Gross Domestic Product (GDP) needs to be at least five per cent against the population growth rate put at about three per cent for sustainable economic growth. “If there is anything the government can do for us this year, let them reduce inflation,” CEO of Fitch Solutions projected that Nigeria’s real GDP growth will increase modestly to 2.9 per cent in 2024, up from 2.4 per cent in 202
Source: Financial Digest (financialdigest.net)
Nigeria Economy Monetary Policy Fiscal Policy Sustainable Growth Inflation GDP Wealth Job Creation
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