‘Increased poverty, inflation decline’ — PwC’s outlook for Nigeria’s economy in 2024

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PricewaterhouseCoopers (PwC), a professional services firm, has released its latest Nigeria economic outlook, highlighting seven key trends that will shape the nation’s economic trajectory in 2024.

In the report, released on Thursday, PwC projected Nigeria’s inflation will marginally decline, however, the company said the Russia-Ukraine war, amongst other factors, might fuel an upward swing.

Also, the report projected Nigeria’s gross domestic product (GDP) will rise by 3.1 percent but the poverty level in the country will increase to 38.8 percent in 2024.

The company said achieving sustainable growth in 2024 requires balancing ambitious fiscal reforms with effective budget implementation.

PwC also stressed the importance of aligning fiscal and monetary policy to stabilise prices and reach target goals.

Here are the seven key trends that will shape Nigeria’s economy this year, according to PWC.

BALANCING AMBITION WITH BUDGETARY IMPLEMENTATION

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