National Economy
Tuesday, July 8, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Business

Ghana, Nigeria To See Slowest 2024 Economic Growth In W/Africa

by Adejumoke Adeeso
1 year ago
in Business
Reading Time: 2 mins read
ghana
Share on FacebookShare on TwitterShare on Telegram

You May Like

CBN Clarifies BVN Fee For Nigerians In Diaspora

FAAN Seeks Investment In Cargo, Aviation Industry

According to the African Development Bank (AfDB), the economies of Ghana and Nigeria are poised to experience the slowest economic growth in 2024 compared to their peers in the West African region.
The AfDB’s macro-economic performance outlook for 2024 forecasts that the West African region will grow by 0.8 per cent to 4.0 per cent this year, with a further increase to 4.4 per cent projected for 2025.
However, Ghana and Nigeria are expected to lag behind, with growth rates falling below the regional average.
In a statement, the AfDB noted, “Except for Nigeria and Ghana, all countries in the region are projected to grow at least 4 percent in 2024.”
Regarding Nigeria’s economic forecast for 2024, the AfDB anticipates a growth rate of 2.9 per cent, improving to 3.7 per cent by 2025.
This modest growth trajectory is primarily linked to recent policy reforms, including the elimination of fuel subsidies and efforts to consolidate foreign exchange markets.
Prof. Chris Onalo, CEO of the National Institute of Credit Administration (NICA), expressed concerns about the slow economic growth, stating, “In the new economic dimension, businesses should be driven strictly on credit. The new dispensation should promote buying and consumption that is strictly credit driven.”
Similarly, Ghana’s economic growth is expected to slightly pick up to 2.8 per cent in 2024, from a sluggish 1.5 per cent in 2023. Persistent inflationary pressures are cited as a key factor hindering Ghana’s economic revival and growth prospects.
The analysis attributes this slow pace to persistent inflationary pressures that continue to strain household budgets, implying that inflation remains a critical barrier to Ghana’s economic revival and growth prospects.
Ghana and Nigeria, despite facing similar economic struggles, are navigating their paths toward recovery amidst the broader West African region’s more optimistic growth projections for 2024.
Tags: African Development Bank (AFDB)GhanaNigeria
ShareTweetShare
Previous Post

Flour Mills Suspends Maize, Sorghum Purchase Over Prices.

Next Post

Customs Launches Anti-Smuggling Operation Against Illegal Food Export.

ANOTHER GOOD READ

CBN Unveils New Liquidity Instruments For NIFIs
Business

CBN Clarifies BVN Fee For Nigerians In Diaspora

8 hours ago
FAAN Seeks Investment In Cargo, Aviation Industry
Business

FAAN Seeks Investment In Cargo, Aviation Industry

3 weeks ago
Mouka Rewards Top Business Partners With Trip To Cape Town
Business

Mouka Rewards Top Business Partners With Trip To Cape Town

1 month ago
Union Bank Hosts Math Contest For Hearing-impaired Students
Business

Union Bank Hosts Math Contest For Hearing-impaired Students

1 month ago
Blue Sands STEM Lab, Others Take Top Prize At MarkHack 4.0
Business

Blue Sands STEM Lab, Others Take Top Prize At MarkHack 4.0

1 month ago
Asharami Energy Commits To Local Capacity Devt, Sustainable Growth
Business

Asharami Energy Commits To Local Capacity Devt, Sustainable Growth

1 month ago
Next Post
Customs Seizes N4.02bn Goods In Lagos, Ogun

Customs Launches Anti-Smuggling Operation Against Illegal Food Export.

Most Recent

Trump Cryptocurrency Drops Amid US Tariff Backlash

Trump Threatens 10% Tariff On Countries Aligning With BRICS

July 7, 2025
China Hits US With Retaliatory Tariffs, Launches Probe Into Google Practices

China Responds To Trump’s Tariff Threat Against BRICS-Aligned Countries

July 7, 2025
CBN Unveils New Liquidity Instruments For NIFIs

CBN Clarifies BVN Fee For Nigerians In Diaspora

July 7, 2025
Labour Institute’s DG Hails Tinubu On Rights Protection, Nigeria First Policy

Fiscal Governance Lifeblood Of National Development— Tinubu

July 7, 2025
Labour Institute’s DG Hails Tinubu On Rights Protection, Nigeria First Policy

At BRICS Summit,Tinubu Demands Reform Of Global Financial, Health Systems

July 7, 2025
LG Launches “Radio Optimism” Campaign

LG Launches “Radio Optimism” Campaign

July 7, 2025
Are Africans Genetically Inferior?

Are Africans Genetically Inferior?

July 7, 2025
Jaiz Bank Lifts NYSC Camp Spirit With Thrilling Football Match

Jaiz Bank Lifts NYSC Camp Spirit With Thrilling Football Match

July 7, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy