Saminu Zawai Mandawari
The World Bank has forecast that Nigeria’s economy will grow by 3.3 per cent this year.
According to the development bank, agriculture, construction, services, and trade are expected to drive Nigeria’s economy’s growth in 2024.
The World Bank disclosed this today in its recent Global Economic Prospects (GEP) 202, adding that Sub-Sahara Africa will experience 3.8 and 4.1 per cent of economic rebound in 2024 and 2025 respectively.
The Bretton Woods institution also revealed that the country’s inflation will improve as the fuel subsidy removal and other economic reforms by the President yield the expected results.
In the meantime, the global unemployment rate will increase slightly in 2024.
This is according to the United Nations which raised concerns about stagnant productivity, worsening inequalities and inflation biting into disposable income.
The International Labour Organization chief Gilbert Houngbo noted today that this year, an extra two million workers are expected to be looking for jobs, raising the global unemployment rate to 5.2 percent.
