Data released by the International Monetary Fund (IMF) forecasts that Nigeria’s inflation rate will stabilise at 14% by 2029, suggesting an end to the country’s steady inflation climb.
In April 2024, Nigeria’s inflation rate stood at 33.69%, significantly higher than the IMF’s prediction of 24.6% for the same year.
According to the data, Nigeria’s inflation rate is expected to decrease from 23% in 2025 to 16% in 2026, then to 15.4% in 2027, before stabilising at 14% in 2028 and 2029.
This positive outlook is a breath of fresh air for the Nigerian economy, which has been grappling with high inflation and interest rates.
To maintain a sustainable economy, Nigeria must address the factors driving inflation and ensure a stable environment, aligning with the IMF’s prediction.
