Pulse Nigeria is the most followed news and entertainment platform, informing and engaging young Nigerians round the clock, providing updates by the hour.

Pulse Nigeria

TDF noted that despite current inflation rates, Nigeria’s economy was transitioning from a static model to a flourishing one, with implications for job and wealth creation.

Nigeria’s economy shows promise, inflation rate projected to decrease | Pulse Nigeria

News Agency Of Nigeria

<h2>The Democratic Front (TDF) has welcomed Fitch Ratings’ projection that Nigeria’s inflation rate would decrease from 33.7 per cent to 26.2 per cent by Q1 2025.</h2>

The group, in a statement signed on Sunday in Abuja, by Malam Danjuma Mohammed, its Chairman, and Chief Wale Adedayo, Secretary, said the projection aligned with their own research, which considered various emerging economic variables.

TDF lauded President Bola Tinubu’s economic reforms, citing the withdrawal of oil subsidies and the unification of foreign exchange rates as key factors in the economy’s growth.

They highlighted Nigeria’s GDP growth to a 3.19 per cent year-on-year increase in Q2 2024.

“Debt Service-to-Revenue Ratio decreased from 97 per cent to 68 per cent in Q2 2024.

“Non-oil export receipts of 2.7 billion dollars in the first half of 2024, a 6.26 per cent increase from 2023, driven by an increase in the global demand for made-in-Nigeria products.

“External reserves reached 39.07 billion dollars as of September 19.”

TDF noted that despite current inflation rates, Nigeria’s economy was transitioning from a static model to a flourishing one, with implications for job and wealth creation.

However, they acknowledged that insecurity and logistical constraints have crippled food supplies, triggering artificial inflation.

The group commended President Tinubu’s efforts to address insecurity, including a 500 million dollar loan to launch a military offensive.

They expressed optimism that Nigeria’s food supply process would be restored, leading to a significant decrease in inflation rates.

Overall, TDF sees Fitch Ratings’ report as an endorsement of President Tinubu’s economic reforms and a justification of the successes recorded so far.

&nbsp;They emphasised the need to stay the course for a speedy realisation of Nigeria’s economic prosperity goals.

Nigerian economy mostly rely on earnings from oil.

Nigeria’s economy shows promise, inflation rate projected to decrease

Pulse Picks

Business

News

Entertainment

Lifestyle

Politics

Local

Metro

World

News 

Celebrities

Music

Movies

Fashion

Beauty & Health

Relationships & Weddings

Food & Travel

Domestic

International 

Sports 

Celebrity Picks

Pulse Marketing

Explore categories

Influencer Awards

Company Pages

Breaking News & Top Stories | Pulse Nigeria

Video

Checkout our authors for the latest content across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone | Pulse Nigeria 

Authors | Pulse Nigeria

| Pulse Nigeria

Read the latest news across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone | Pulse Nigeria

Search for the latest content across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone | Pulse Nigeria

Search Results | Pulse Nigeria

Watch the latest videos across entertainment, sports, business and more. Be first to receive exclusive updates with your free subscription straight to your phone | Pulse Nigeria