Gatekeepers News reports that this projection suggests a steady increase from $1.44 trillion in 2024, with a notable 5.5% rise expected in 2029.
The IMF also forecasts Nigeria’s share of global GDP based on PPP to reach 0.78% by 2029, a slight increase from 0.77% in 2023.
Despite this positive outlook, Nigeria faces challenges such as a high cost of living and soaring inflation, which have led to a decline in purchasing power.
The inflation rate has risen from 22.41% in May 2023 to 33.69% in April 2024, while food inflation has increased from 24.82% to 40.53% during the same period.
Senate has on Thursday, passed for third reading, a bill seeking establishment of the North…
A Bayelsa High Court sitting in Ogbia Town, Ogbia LGA of the state, has sentenced…
Operatives of Ikorodu Area Command in Lagos State have rescued a 19-year-old pregnant lady from…
Children, S*xual and Gender-Based Violence Court in Awka, Anambra State has sentenced a teacher named…
A federal high court in Abuja has ordered the closure of two companies, Trinity Biotech…
Oyo State Government has declared Monday, July 8, 2024, as a work-free day in commemoration…