Nigeria’s inflation will drop to 23% by 2025 – IMF

The International Monetary Fund, IMF, says Nigeria’s inflation
will drop to 23 per cent in 2025 from 33.2 per cent in March 2024.

The Washington-based bank disclosed this on Tuesday during
its Global Economic Outlook at the International Monetary Fund/World Bank
Spring Meetings.

Division Chief of the IMF Research Department, Daniel Leigh,
said the impact of Nigeria’s economic reforms, including two exchange rate
adjustments, contributed to the surge in the inflation rate to 33.2 per cent in
March.

He, however, noted that Nigeria’s economic growth is
expected to rise from 2.9 per cent last year to 3.3 per cent in 2024.

“Inflation has increased, reflecting the reforms, the
exchange rate, and its pass-through into other goods from imports to other
goods.