Nigeria’s economy will be better in 2024 – CPPE

The Centre for the Promotion of Private Enterprise, CPPE, has said that Nigeria’s economy will be better in 2024 than in 2023.

Muda Yusuf, the Chief Executive Officer of CPPE, disclosed this on Thursday while outlining the perspective for 2024.

However, the economic think tank group projected that the manufacturing sector’s challenges regarding energy costs and foreign exchange might linger.

“I don’t believe 2024 will be worse than 2023. Of course, those challenges will persist, especially for manufacturing. Challenges around foreign exchange, particularly for manufacturing businesses and even other businesses that have high foreign exchange exposure,” he said.

Manufacturers Association of Nigeria, MAN, said real sectoral growth will hit about 3.2 per cent in 2024. However, MAN predicted a tough start for Nigeria’s manufacturing sector in the first quarter of 2024.