• About
  • Advertise
  • Contact
Thursday, October 23, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

Nigeria’s Inflation Should Ease In 2024, Says World Bank

Vital News by Vital News
January 10, 2024
in Economy
0
Nigeria’s Inflation Should Ease In 2024, Says World Bank
Share on FacebookShare on Twitter

The World Bank says Nigeria’s inflation should ease in 2024 as the effects of last year’s foreign exchange (FX) market and petrol subsidy reforms continue to wane.

The World Bank made the projection in its ‘Global Economic Prospects’ report for January 2024 on Tuesday.

In 2023, the Central Bank of Nigeria (CBN) announced a change in the operations in the FX market by collapsing all the exchange windows into the investors’ and exporters’ (I&E) window.

However, the market has continued to record high levels of fluctuations since the reform, worsening the nation’s inflation which currently stands at 28.2 per cent.

Another major reform implemented by the federal government was the removal of the petrol subsidy.

RelatedStories

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

FAAC Shares N2.103 trillion September 2025 Revenue Among FG, States, LGs

Dangote Seeks Urgent Legal Backing For “Nigeria First” Policy To Drive Growth In Manufacturing Sector

Nigeria’s Inflation Drops To 18.02pct

The Bretton Woods institution, while speaking on its outlook for the country’s economy, said the structural reforms will boost fiscal revenue over the period in Nigeria.

It added that the country’s per capita income will return to its pre-pandemic level by 2025.

Per capita income (PCI) or total income measures the average income earned per person in a given area (city, region, country) in a specified year.

The World Bank said, “Growth in Nigeria is projected at 3.3 per cent this year and 3.7 per cent in 2025 — up 0.3 and 0.6 percentage points, respectively, since June — as macro-fiscal reforms gradually bear fruits.

“The baseline forecast implies that per capita income will reach its pre-pandemic level only in 2025.

“Growth is expected to be driven mainly by agriculture, construction, services, and trade.

”Inflation should gradually ease as the effects of last year’s exchange rate reforms and removal of fuel subsidies fade.

“These structural reforms are expected to boost fiscal revenue over the forecast period.”

The World Bank also said South Africa’s growth will firm to a still-subdued 1.3 per cent in 2024 and then edge up to 1.5 per cent in 2025.

It further projected that Angola will pick up to 2.8 per cent this year — half a percentage point lower than anticipated in the June global economic prospects report.

The multilateral institution added that growth in sub-Saharan Africa is expected to pick up in 2024 and 2025, approaching its average rate of the past two decades.(vitalnewsngr.com)

 

 

Tags: bankcapitaEsseinflation
Previous Post

CBN Sacks Boards, Management Of Titan Trust Bank, Keystone Bank, Union Bank, Polaris Bank

Next Post

Tinubu Appoints New Board Members, Management Team For National Hajj Commission

Vital News

Vital News

RelatedStories

‎IMPI Welcomes First Interest Rate Cut In Five Years, Says CBN Decision Aligns With Its Projection
Economy

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

October 22, 2025
FAAC Shares N2.22 trillion August 2025 Revenue Among Federal, States, Local Governments
Economy

FAAC Shares N2.103 trillion September 2025 Revenue Among FG, States, LGs

October 17, 2025
Dangote Seeks Urgent Legal Backing For “Nigeria First” Policy To Drive Growth In Manufacturing Sector
Economy

Dangote Seeks Urgent Legal Backing For “Nigeria First” Policy To Drive Growth In Manufacturing Sector

October 16, 2025
Capital Inflows Into Nigeria Up By 67.12% In Q1 2025
Economy

Nigeria’s Inflation Drops To 18.02pct

October 15, 2025
PMI Endorses Dangote Refinery As A Global Benchmark For Project Excellence
Economy

PMI Endorses Dangote Refinery As A Global Benchmark For Project Excellence

October 14, 2025
Next Post
Tinubu Appoints New Board Members, Management Team For National Hajj Commission

Tinubu Appoints New Board Members, Management Team For National Hajj Commission

Corporate Communication Guru, Oyeyemi Kolapo Is New Iyalode Of Egba Muslims

Corporate Communication Guru, Oyeyemi Kolapo Is New Iyalode Of Egba Muslims

Abuja Chief Pharmacist Sentenced To Life Imprisonment For Rape/Sodomy, NAPTIP Lauds Judiciary

Power Project Contract Scam : Former Power Minister, Agunloye Admitted To N50mln Bail

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Bandits kill 1,192 persons, kidnap 3,348, injure 891 others in Kaduna in 2021 – Aruwan

4 years ago
APC Wins Ebonyi Senatorial , Surulere Federal Constituency Bye – elections

APC Wins Ebonyi Senatorial , Surulere Federal Constituency Bye – elections

2 years ago
Bello Presents Staff of Office to Maigari of Lokoja, Charges Him On Security, Peace

Bello Presents Staff of Office to Maigari of Lokoja, Charges Him On Security, Peace

2 years ago
Kogi, China Meet To Scale Up Development Of Transport Infrastructure

Kogi, China Meet To Scale Up Development Of Transport Infrastructure

3 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN cement Court Dangote death dies drugs Economy EFCC Election FG gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security students Tinubu US
No Result
View All Result

Highlights

FG Warns Buyers To Stay Off ARCEDEM, Radio Nigeria Land, Four Other Landed Property In Oyo

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

National Orthopedic Hospital Jalingo Signs MoU With Police Health Maintenance Limited

Former Kogi Senator In Trouble Over Attempts To Scuttle Appointment Of Amupitan As INEC Chairman, Action Raises Dust Among Kinsmen

Three INEC Officials Going For November 8 Anambra Governorship Election Kidnapped In Kogi

Amid Worsening Insecurity, Kwara Closes 45 Public Schools

Trending

Former Minister, Tanimu Turaki, Emerges Northern PDP Consensus Candidate As National Chairman
Politics

Former Minister, Tanimu Turaki, Emerges Northern PDP Consensus Candidate As National Chairman

by Vital News
October 23, 2025
0

Northern stakeholders of the Peoples Democratic Party (PDP) have formally endorsed Kabiru Tanimu Turaki, SAN, as consensus...

Trailer Crushes Female University Lecturer To Death In Lokoja

Trailer Crushes Female University Lecturer To Death In Lokoja

October 23, 2025
Governor Adeleke Appoints Davido Chairman Of Osun State Sports Trust Fund

Governor Adeleke Appoints Davido Chairman Of Osun State Sports Trust Fund

October 22, 2025
FG Cancels Independence Anniversary Parade

FG Warns Buyers To Stay Off ARCEDEM, Radio Nigeria Land, Four Other Landed Property In Oyo

October 22, 2025
‎IMPI Welcomes First Interest Rate Cut In Five Years, Says CBN Decision Aligns With Its Projection

‎IMPI Revises Inflation Rate Projection To 14% From 17% For December

October 22, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Former Minister, Tanimu Turaki, Emerges Northern PDP Consensus Candidate As National Chairman October 23, 2025
  • Trailer Crushes Female University Lecturer To Death In Lokoja October 23, 2025
  • Governor Adeleke Appoints Davido Chairman Of Osun State Sports Trust Fund October 22, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • Maritime/ Marine Transport
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Tourism
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In