{"id":18014,"date":"2024-02-02T07:28:01","date_gmt":"2024-02-02T07:28:01","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=18014"},"modified":"2024-02-02T07:28:01","modified_gmt":"2024-02-02T07:28:01","slug":"imf-forecasts-nigerias-inflation-to-decline-to-23-in-2024","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/02\/02\/imf-forecasts-nigerias-inflation-to-decline-to-23-in-2024\/","title":{"rendered":"IMF Forecasts Nigeria&#8217;s Inflation to Decline to 23% in 2024"},"content":{"rendered":"<div class=\"flex-1 overflow-hidden\">\n<div class=\"react-scroll-to-bottom--css-qzcjd-79elbk h-full\">\n<div class=\"react-scroll-to-bottom--css-qzcjd-1n7m0yu\">\n<div class=\"flex flex-col pb-9 text-sm\">\n<div class=\"w-full text-token-text-primary\" data-testid=\"conversation-turn-167\">\n<div class=\"px-4 py-2 justify-center text-base md:gap-6 m-auto\">\n<div class=\"flex flex-1 text-base mx-auto gap-3 md:px-5 lg:px-1 xl:px-5 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem] group final-completion\">\n<div class=\"relative flex w-full flex-col lg:w-[calc(100%-115px)] agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" data-message-author-role=\"assistant\" data-message-id=\"7b5f7baa-45b8-49f1-bf00-2435d36393e1\">\n<div class=\"markdown prose w-full break-words dark:prose-invert dark\">\n<p>The International Monetary Fund (IMF) has projected a decline in Nigeria&#8217;s inflation rate to 23 percent in 2024 and further to 15.5 percent in 2025, according to Daniel Leigh, the IMF&#8217;s Division Chief of the Research Department.<\/p>\n<p>Nigeria&#8217;s inflation rate reached 28.92 percent in December 2023, prompting the Central Bank of Nigeria&#8217;s (CBN) foreign exchange reforms to curb inflation and stabilize the naira.<\/p>\n<p>Leigh emphasized that the CBN&#8217;s monetary tightening measures, including a significant interest rate hike to 18.8 percent, are expected to contribute to reducing inflation from 24.6 percent in 2023 to 23 percent in 2024 and around 15.5 percent in 2025. He stressed the importance of revenue mobilization and expanding the tax base to support social initiatives amid ongoing efforts to conquer inflation.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The International Monetary Fund (IMF) has projected a decline in Nigeria&#8217;s inflation rate to 23 percent in 2024 and further to 15.5 percent in 2025, according to Daniel Leigh, the IMF&#8217;s Division Chief of the Research Department. Nigeria&#8217;s inflation rate reached 28.92 percent in December 2023, prompting the Central Bank of Nigeria&#8217;s (CBN) foreign exchange [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":18020,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[59],"class_list":["post-18014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/18014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=18014"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/18014\/revisions"}],"predecessor-version":[{"id":18028,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/18014\/revisions\/18028"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/18020"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=18014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=18014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=18014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}