A Fitch Solutions Country Risk & Industry Research report has predicted that the Nigerian economy will continue to slump in 2023 due to activities leading to the general elections next year.
It however says it would likely pick in 2024, with growth rising to 3.3 per cent.
An affiliate of Fitch Ratings, the Fitch Solutions report estimated that economic growth in Nigeria slipped to a six-quarter low of 2.3 per cent in quarter four of 2022, predicting that the country’s economic growth would ease further in 2023.
The report recalled the latest figures from the National Bureau of Statistics (NBS) which it said showed that economic growth slowed from 3.4 per cent y-o-y in Q2, 2022 to 2.3 per cent y-o-y in Q3, 2022.
