OLUSHOLA BELLO FROM LEADERSHIP NEWS
Financial and economic experts have forecasted transformative growth for Nigeria in 2025, driven by strategic policies, public-private partnerships, and infrastructure development.
They are of the view that 2025 holds out the prospect of more stable economic conditions than both 2023 and 2024. Since mid-2023 the monetary authorities and the federal government have implemented policies to tackle inflation and to stabilise the currency.
The effects of these policies have not been immediate. Inflation has risen from 28.20 per cent year-on-year in November 2023 to 34.60 per cent Y-o-Y in November 2024. The Central Bank of Nigeria (CBN) has raised its policy rate by 875 basis points over the past 12 months to 27.50 per cent. The one-year Treasury Bill (T-bill) yield in the secondary market has risen to 26.00 per cent over the same time. Measures have been taken to reverse the flow of unfunded loans from the CBN to the government.
Looking ahead into 2025, the president of Lagos Chamber of Commerce and Industry (LCCI), Gabriel Idahosa forecasted that the Nigerian economy could witness transformative economic growth in 2025 if decisive and strategic policy actions are formulated and implemented to address lingering economic challenges…
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