The World Bank has projected a significant drop in Nigeria’s inflation rate to 24.8 percent year-on-year in 2024.
The country’s inflation currently stands at 31.7 percent as of February.
The Bretton Wood institution gave the projection in its April 2024 edition of Africa’s Pulse, a biannual survey of African economies.
The report read: “Inflation is cooling in most Sub-Saharan African economies but remains high. The median inflation in the region is projected to fall from 7.1 percent in 2023 to 5.1 percent in 2024 and 5 percent in 2025–26.
