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Fuel Shortage and Inflation Weaken’s Nigeria’s Economic Growth

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The World Bank has said that fuel shortage and rising inflation will likely restrain economic growth in Nigeria.

The Financial Institution projected that Nigeria’s economy would grow by 3.4 per cent in 2022 but decline to 3.2 per cent in 2023 and 2024.

It noted that there would be persistent production challenges in the oil sector, which are expected to weigh on growth.

 

Written by: Helen Obih

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