Business

Nigeria’s inflation may peak at 44% as naira value worsens – IMF 

In its recent post-financing assessment report concerning Nigeria, the International Monetary Fund (IMF) has painted a grim picture of the nation’s economic future.


The IMF warns that Nigeria’s inflation rate could soar to an unprecedented 44% if the Central Bank of Nigeria (CBN) fails to tighten its monetary policy significantly. 


This alarming inflation rate is projected under a scenario where the naira continues to face severe pressures, compounded by the potential impact of a climate shock hitting the country early in 2024.