Report has it that inflation in Nigeria is expected to remain high in 2025, driven by intermittent flooding and challenges with the country’s currency, the naira. A recent Reuters poll reveals that while inflation in key African economies is projected to ease, Nigeria’s inflation is likely to persist due to various factors.
It also reported that acute shortage of dollars in many African countries, including Nigeria, Angola, and Zambia, continues to strain domestic inflation. These nations heavily rely on single commodity exports such as crude oil and copper, making them vulnerable to currency fluctuations and external shocks.
Despite predictions by the International Monetary Fund of a decline in Nigeria’s inflation from the current 33.2% to 23% in 2025, analysts anticipate only a gradual moderation. Reuters reported that this is attributed to the slow pace of monetary policy adjustments by the Central Bank of Nigeria.
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