Consulting firm, PwC, has said that a Nigeria’s inflation will decline marginally to settle at 29.5 per cent by the end of 2024.
In its latest economic outlook report on Nigeria released on Monday, the company attributed the projected decline in inflation to outcomes of ongoing reforms and policy actions of the government.
Nigeria’s inflation according to data from the National Bureau of Statistics (NBS) is 33.95 per cent.
PwC highlighted key considerations for the government in the areas of policies that could help stabilise the economy, specifically urging the government to prioritise macro stability by addressing security, social and pressure points of inflation, and exchange rate pressures.
It said the government would also need to mobilise capital to drive growth through market -ocused policies, intensification of investment promotion, and also advised the government to make short- and long-term sectoral bets focused on exports, domestic substitution, and job creation.
Citing the recently introduced and suspended cybersecurity levy, PwC advised the government to always adopt scenario planning before any major economic reform is implemented to avoid unwarranted policy reversals.
