IMF revises Nigeria GDP growth on weaker growth

The International Monetary Fund has revised Nigeria’s economic growth downward by 0.2 percentage point, mainly due to weaker-than-expected growth.

The IMF now expects Nigeria’s economy in 2024 to grow by 3.1 per cent. From the 3.3 per cent it earlier projected in April.

In its recent update to the global economic outlook titled “Global Economy in a Sticky Spot” published on Tuesday, the organisation said the downgrade followed the country’s weak activities from January to March 2024.

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