JP Morgan Predicts Weaker Economy For Nigeria, Says Inflation To Hit 28%, Naira To Depreciate Further

JPMorgan Chase & Co. has projected that the Nigerian inflation rate will spike to 28 per cent by the end of 2023 and the naira will further depreciate despite the Central Bank of Nigeria’s innovations to sanitize the foreign exchange market.

JP Morgan made the disclosure in a report titled, “Nigeria: Reform pause rather than fatigue: CBN’s financial accounts open a can of worms.”

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