IMF Downgrades Nigeria's Economic Growth Projection Slightly to 3.1% Hails monetary tightening in Nigeria, others Says cash transfers key to protecting Nigeria's vulnerable population
Nume Ekeghe The International Monetary Fund
(IMF) has downgraded Nigeria's 2024 economic growth forecast to 3.1 per cent, from the 3.3 per cent
it had previously estimated. However, IMF retained its 2025 growth forecast of three per cent.
Nigeria’s new growth prospects were stated in IMF's latest World Economic Outlook (WEO) released
yesterday, titled, “The Global Economy in a stick Spot.” IMF also praised Nigeria and
other Sub-Saharan African countries Continued on page 9
NLC: Governments’ Bad Policies, Not Minimum Wage, Bane of Private Sector Operators... Page 9 Wednesday 17 July, 2024 Vol 29. No 10689. Price: N400
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L-R: Laolu and Carolina Saraki with their twins (Olusola and Olulani); Tope Saraki-Edu, Toyin Saraki, Senator Bukola Saraki, the First Lady, Senator Oluremi Tinubu and Senator Gbemi Saraki, when the First Lady paid a condolence visit to the Sarakis over the death of their mother, Chief (Mrs) Morenike Florence Saraki... yesterday
Again, Military, Police, NNPCL, Others Declare War on Crude Oil Theft Vow to achieve results in three months National Assembly mulls stronger laws against oil theft, vandalism NMDPRA seeks armed forces' support to curb adulteration, product diversion Emmanuel Addeh and Ikechukwu Aleke in Abuja The Armed Forces of Nigeria, in collaboration with the Nigeria Police, Nigerian National Petroleum Company Limited (NNPCL), and other security agencies, yesterday, declared fresh war on perpetrators of oil theft, especially in the Niger Delta, in a bid to improve oil production and revitalise the country's ailing economy. That was as the National Assembly threw its weight behind the ongoing efforts to boost Nigeria’s crude oil production and grow its reserves. The federal legislature said it would consider laws prescribing stiffer consequences for crude oil thieves and those that vandalise the country's critical hydrocarbon infrastructure. Equally, yesterday, the state Coordinator of the Nigerian Midstream and Downstream Petroleum Regulatory Continued on page 9
Oluremi Tinubu Visits Oba of Lagos...
L-R: Wife of the President, Senator Oluremi Tinubu and Oba of Lagos, Oba Rilwan Akiolu, during the former's courtesy visit to the royal father at Iga Idugaran in Lagos... yesterday