Nigeria’s Inflation to Remain Elevated

The International Monetary Fund, IMF, has said the rate of inflation in Nigeria is expected to remain elevated in 2022.

According to IMF, the fiscal deficit of the consolidated government is expected to remain high at 6.1 per cent of the nation’s Gross Domestic Product.

Nigeria’s economic growth is driven by services and agriculture, with the GDP growth reaching 3.6 per cent in the first quarter of 2022.