What trends will shape Nigeria’s economic outlook?
Executing fiscal reforms and finding the right framework and instruments to achieve price stability among others are key trends PwC believes will shape Nigeria’s economy this year. Olusegun Zaccheus, a Partner and West Africa Lead at PwC Strategy and, joins CNBC Africa to unpack the 2024 Nigerian Economic Outlook.
Mon, 29 Jan 2024 12:29:33 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- The significance of government fiscal reforms and their impact on economic performance
- The challenges surrounding monetary policy, particularly inflation management and FX regime
- The importance of mitigating consumer spending pressures through policy interventions and sectoral reforms
PricewaterhouseCoopers (PwC) has identified and unpacked seven major trends that are set to shape Nigeria's economic landscape in 2024. The discussion, led by Olusegun Zaccheus, a Partner and West Africa Lead at PwC Strategy, delved into the key factors influencing the country's economic outlook and the potential impact on businesses and livelihoods. Zaccheus highlighted the pivotal role of government fiscal reforms, the challenges around monetary policy, and the cautious optimism of foreign investors in the upcoming year. In addition, consumer spending and the need for mitigating strategies to ease economic pressures were also emphasized. The conversation underscored the importance of clear policy communication, sectoral reforms, and social interventions to navigate the uncertainties ahead. The interview shed light on the strategies needed to address these challenges and unlock growth opportunities across various sectors. As Nigeria aims to achieve a 3% GDP growth rate amid a complex economic environment, the resilience and adaptability of businesses and policymakers will be crucial in shaping the nation's economic trajectory in 2024.
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