The International Monetary Fund has predicted that inflation will slow Nigeria’s economic growth to 2.9 per cent in 2023.
It also downgraded the country’s economic growth prospect by 0.3 percentage points to 2.9 per cent for 2023 following weaker oil and gas production.
The IMF disclosed this in its new World Economic Outlook (for October) themed, ‘Navigating Global Divergences’.
Earlier in July, the lender projected that Nigeria’s economy would grow by 3.2 per cent in 2023. Then, it predicted that growth in the country would be impacted by security issues in the oil sector.
