An International Monetary Fund team, led by Axel Schimmelpfennig, IMF mission chief for Nigeria, which visited Lagos and Abuja February 12–23, 2024, advices Nigeria to address rising food insecurity. “With about 8 percent of Nigerians deemed food insecure, addressing rising food insecurity is the immediate policy priority. At the end of the visit, Mr. Axel Schimmelpfennig, issued the following statement:“Nigeria’s economic outlook is challenging. Economic growth strengthened in the fourth quarter, with GDP growth reaching 2.8 percent in 2023. This decision should help contain inflation, which reached 29.9 percent year-on-year in January 2024, and pressures on the naira,” said Axel Schimmelpfennig.

Source: News Business Ethiopia March 05, 2024 18:37 UTC