The Nigerian economy will limp on at the slow tempo of growth it started the first quarter of the year with through to the end and expand at virtually the same rate next year, PricewaterhouseCoopers (PwC) foresaw in a new outlook for Africa’s largest economy.
“The marginal growth in GDP by 2.5% in Q2 2023 from 2.3% in Q1 2023 was caused by the lingering effect of the cash crunch. PwC projects a 2.8% growth rate for Nigeria in 2023 and 3% in 2024,” the consultancy firm said.
That marginal projection could be part of the chain reaction from enforcing fiscal reforms in Nigeria, according to the professional services firm.
