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Nigeria’s Inflation Expected To Stabilize At 14% by 2029, IMF Forecasts

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Nigeria’s Inflation Expected To Stabilize At 14% by 2029, IMF ForecastsThe International Monetary Fund (IMF) has predicted that Nigeria’s inflation rate will stabilize at 14 per cent by 2029, signaling a potential end to the current upward trend.

This projection offers a glimmer of hope amidst concerns surrounding the escalating inflation rate, which reached 33.69 per cent as of April 2024, as reported by the National Bureau of Statistics. This figure deviates from the IMF’s earlier prediction of 24.6 per cent for the same period.....KINDLY READ THE FULL STORY HERE▶

According to IMF data, the inflation rate is anticipated to gradually decline from 23 per cent in 2025 to 16 per cent in 2026, further decreasing to 15.4 per cent in 2027. By 2028 and 2029, the inflation rate is expected to stabilize at 14 per cent.

This forecasted stabilization is viewed as a positive development for the Nigerian economy, which has been grappling with surging inflation and interest rates.

In recent times, Nigeria’s economy has encountered challenges, with rising inflation and interest rates posing significant threats to economic growth and stability.

The Central Bank of Nigeria has implemented various measures to mitigate these challenges, including the recent increase in interest rates during the 295th MPC meeting in May 2024.

However, economists remain concerned about the persistent rise in inflation and interest rates, urging the government to address the underlying factors driving inflation, particularly food and transportation costs.

Chief Economist at SPM Professionals, Paul Alaje, expressed apprehension over the increase in the Monetary Policy Rate (MPR), cautioning against its potential implications. Alaje emphasized the need for a comprehensive approach beyond monetary tools to address Nigeria’s economic challenges.

Echoing similar sentiments, economist Jonathan Thomas welcomed the IMF’s prediction of a stabilized inflation rate by 2029 but stressed the importance of continued vigilance and implementation of policies targeting the root causes of inflation.

The current inflationary pressures have significant implications for businesses, households, and the overall economy. By addressing the drivers of inflation and maintaining economic stability, Nigeria can foster sustainable economic growth and potentially align with the IMF’s forecast.

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Tyson Fury Vows To Knock Out Anthony Joshua Within Seven Rounds

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British heavyweight contender Tyson Fury has stated his intention to defeat fellow countryman Anthony Joshua within seven rounds when they square off at Cardiff’s Principality Stadium on December 11. Fury dismissed Joshua as a mere “stepping stone” on his path to securing a third encounter with Oleksandr Usyk.`....KINDLY READ THE FULL STORY HERE▶

  • Prediction and Strategy: Speaking via the Furocity YouTube channel, Fury expressed absolute confidence in his ability to stop Joshua within six or seven rounds, labeling him an “old bum” and a “weightlifter” lacking sufficient speed and cardio.

  • Focus on Usyk: Fury indicated that he views the upcoming bout as a warm-up exercise before targeting a rematch against Usyk in the United States, where he believes officiating will be fairer.

  • Long-Awaited Bout: Reflecting on past failed negotiations and a missed face-off at Tottenham Hotspur Stadium earlier in the year, Fury admitted he is thrilled to finally secure the matchup.

  • Mutual Respect: Despite his usual pre-fight trash talk and labeling Joshua a “coward” regarding past face-offs, Fury maintained that he will respect the outcome and shake hands with his opponent regardless of who wins.“““““““““““““““““““““““““““““““““““““““““““““““““““““““““““““““““““““““““““““““““““““““““`

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“IT WAS A HARD PILL TO SWALLOW!” — Area Fada Charly Boy Breaks Silence On Daughter Coming Out As Lesbian.

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Veteran entertainer Charly Boy has discussed his journey to accepting the sexual orientation of his two daughters, emphasizing love and parental adaptability.....KINDLY READ THE FULL STORY HERE▶

In an interview with Punch, Charly Boy revealed that his younger daughter was the first to come out as a lesbian, followed later by her elder sister. Although he initially struggled with the news, he adapted quickly out of a deep love for his children.

Key Highlights from the Interview:

  • Initial Reaction: The entertainer admitted that the revelation was initially “a hard pill to swallow,” particularly regarding his younger daughter who had not yet had children at the time.

  • Focus on Happiness: Regarding his older daughter—who is a mother of six and a grandmother—he noted that an adult woman has the right to choose her path, stating that his primary concern is her happiness.

  • Modern Parenting: Charly Boy emphasized that he chose to be a supportive and open-minded father rather than rigid, noting that contemporary parenting with millennials and Gen Z requires guidance rather than old-fashioned commands.

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TRADITION VS. MARRIAGE: Olu Of Warri’s Wife Unloads On Husband’s Defiant Stance On Polygamy

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Ivie Atuwatse III, queen consort and wife of Ogiame Atuwatse III, the 21st Olu of Warri, recently discussed her marriage to the monarch and the unique dynamics of royal life in an interview with BBC News Pidgin.....KINDLY READ THE FULL STORY HERE▶

  • Pride in the Monarch: Queen Ivie shared that one of her greatest joys is watching the public recognize and celebrate her husband’s personality, achievements, and qualities, noting that it reinforces her own deep admiration for him.

  • Balancing Royal Duties: She acknowledged that being married to a traditional ruler comes with challenges, particularly managing the monarch’s heavy responsibilities and public demands, which often limits their private time as a couple.

  • Addressing Polygamy: Speaking on the subject of marriage traditions, the queen consort remarked that the monarch’s stance on polygamy remains unchanged, adding with humor that she feels like multiple women in one and is entirely content.

The couple, who have been married since 2014 and share children, continue to navigate public life together following the monarch’s ascension to the throne in 2021.

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