IMF says Nigeria inflation remains double digit

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Nigeria’s inflation figure will remain at double-digit while the economy grows at 0.8 per cent this year, the International Monetary Fund (IMF) said yesterday. The strong performance seen in the agricultural sector and rising crude oil production are to drive the growth, it added.

Speaking during the release of the World Economic Outlook (WEO) at the ongoing IMF Annual Meetings in Washington, D.C, its Chief Economist, Maurice Obstfeld, said Nigeria’s inflation which currently stands at 16.01 per cent in August will remain at double digit throughout the year.

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