Senate Leader, Opeyemi Bamidele has predicted a significant fall in the rate of inflation in the country by the middle of 2024, citing current economic indices.
According to Bamidele, who made the prediction in his Sallah message on Wednesday, the repayment of N4.83 trillion out of N30 trillion Ways and Means to the Central Bank of Nigeria (CBN) by the Federal Government, the improvement in the value of the naira against the US currency, dollar and the settlement of $7 billion FX backlog by the CBN, and “the consumer price index, which measures inflation, will no doubt begin to drop significantly by mid-year as we sustain the drive for economic and fiscal stability.”
According to the Senate Leader, the National Assembly would still be committed to providing much-needed parliamentary buffers that always support key public institutions to efficiently discharge their mandates consistent with the provisions of the Constitution of the Federal Republic of Nigeria,1999.
