Nigeria’s Economy Grows Strongly Amid High Inflation – World Bank (Independent)

14 May 2025 09:10 am
Business

According to the World Bank Nigerias economy has shown strong growth despite high inflation rates. In the first quarter of 2021 the countrys Gross Domestic Product (GDP) grew by 0.5% driven by the non-oil sector. This growth is a positive sign for the countrys economy which has been heavily impacted by the COVID-19 pandemic and falling oil prices. However the high inflation rate currently at 18.12% remains a concern and could potentially hinder further economic growth. The World Bank has recommended that the government implement policies to address inflation and diversify the economy to reduce its reliance on oil.

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Link to Original Story: https://independent.ng/nigerias-economy-grows-strongly-amid-high-inflation-world-bank/

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  • 1) The World Bank says Nigeria’s economy is growing, but with prices soaring, do you think everyday people actually feel it?
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  • 2) It’s funny that the economy is growing, yet inflation is driving up the cost of basics. How do you think people are coping with both?
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  • 3) Growth looks good on paper, but if inflation keeps climbing, is it real progress or just makes things harder on everyday people?
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