NAIRAMETRICS
The World Bank has projected that Nigeria’s per capita income will return to its pre-pandemic level by 2025.
This outlook comes as the country’s economy is expected to witness a gradual improvement in the coming years, according to the bank’s Global Economic Prospects report for January 2024.
The Sub-Saharan African (SSA) region, including Nigeria, experienced a slowdown in economic growth to an estimated 2.9% in 2023, primarily due to country-specific challenges such as higher input prices for businesses in Nigeria.
The region’s three largest economies – Nigeria, South Africa, and Angola – saw their growth rate slow to an average of 1.8% in 2023.
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