Nigeria is missing from the list of 11 African countries expected to experience strong growth in 2024.

According to the African Development Bank Group, in its latest Macroeconomic Performance and Outlook of the continent, Africa will account for 11 of the world’s 20 fastest-growing economies in 2024, but Nigeria is not expected to be one of them.

AfDB said the top 11 African countries projected to experience strong economic performance are Niger (11.2 per cent), Senegal (8.2 per cent), Libya (7.9 per cent), Rwanda (7.2 per cent), Cote d’Ivoire (6.8 per cent), Ethiopia (6.7 per cent), Benin (6.4 per cent), Djibouti (6.2 per cent), Tanzania (6.1 per cent), Togo (6 per cent), and Uganda (6 per cent).

The International Monetary Fund reduced its forecast for Nigeria and its economic growth to 3 per cent in 2024, down from a 3.1 per cent projected in October 2023. This is contained in the Washington-based institution’s World Economic Outlook update for January 2024.

Overall, the AfDB report said that the real gross domestic product growth for the continent is expected to average 3.8 per cent and 4.2 per cent in 2024 and 2025, respectively. This is higher than projected global averages of 2.9 per cent and 3.2 per cent, the report said. The continent is expected to remain the second-fastest-growing region behind Asia.

The President of the AfDB, Akinwumi Adesina, spoke during the launch of the report on the sidelines of the 37th Ordinary Session of the Assembly of the African Union – Addis Ababa, Ethiopia

Adesina said, “Today, as we gather here, like other regions of the world, Africa continues to face multiple crises, including rising cost of living, weakening economic growth, a tightening of global financial conditions, shortage of concessional resources, increasing effects of climate change, lingering impacts of health pandemics, conflict, and geopolitical tensions.

“The interaction of these global and regional crises with existing regional structural weaknesses threatens to halt Africa’s gradual economic recovery and is hindering socioeconomic developments.”

“Despite the challenging global and regional economic environment, 15 African countries have posted output expansions of more than 5 per cent,” he added.

Adesina further called for larger pools of financing and several policy interventions to boost Africa’s growth.

The latest report is calling for cautious optimism given the challenges posed by global and regional risks. These risks include rising geopolitical tensions, increased regional conflicts, and political instability—all of which could disrupt trade and investment flows, and perpetuate inflationary pressures.

Presenting the key findings of the report, the African Development Bank’s Chief Economist and Vice President, Prof. Kevin Urama, said, “Growth in Africa’s top-performing economies has benefited from a range of factors, including declining commodity dependence through economic diversification, increasing strategic investment in key growth sectors, and rising both public and private consumption, as well as positive developments in key export markets.

“Africa’s economic growth is projected to regain moderate strength as long as the global economy remains resilient, disinflation continues, investment in infrastructure projects remains buoyant, and progress is sustained on debt restructuring and fiscal consolidation.

Highlighting the importance of collaboration, the Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, African Union Commission, Ambassador Albert Muchanga, said, “The future of Africa rests on economic integration. Our small economies are not competitive in the global market. A healthy internal African trade market can ensure value-added and intra-African production of manufactured goods.”

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Nigeria coming nowhere close whenever good indices of economic and developmental progress are being assessed. These are the inglorious trophies the government of Buhari and his balabloo-blu-bulava druggie cum certificate forger surrogate have won for Nigeria

According to the African Development Bank Group, in its latest Macroeconomic Performance and Outlook of the continent, Africa will account for 11 of the world’s 20 fastest-growing economies in 2024, but Nigeria is not expected to be one of them.

AfDB said the top 11 African countries projected to experience strong economic performance are;
-1). Niger (11.2 per cent),
-2). Senegal (8.2 per cent),
-3). Libya (7.9 per cent),
-4). Rwanda (7.2 per cent),
-5). Cote d’Ivoire (6.8 per cent),
-6. Ethiopia (6.7 per cent),
-7. Benin (6.4 per cent),
-8 ). Djibouti (6.2 per cent),
-9). Tanzania (6.1 per cent),
-10). Togo (6 per cent), and
-11). Uganda (6 per cent).

See countries overriding the giant of Africa? Why would Nigeria take its rightful place when you have people who fraudulently got into government but are clueless about the intricacies of how a sound economy is runned? Expect more F9 under these mandate criminals.

The people hoping that Tinubu will perform continue to ignore all the warning signs, red flags, and everything that says otherwise.

This government is no good! It’s full of lies and propaganda. They will impoverish you and still convince you that the economy will grow in a few months

You ignored the same warnings about Buhari, how many times will they deceive you before you learn?

Thank goodness the head is Tinubu‘s brother if na Igbo man now Umahi for say he wants to insight the world against the Tinubu administration

Egypty, SA, Morocco, Algeria etc

na statistics we go chop. clowns

oya freestuff, yarimo, mannabbqgrillz, helinius, and other online banditos defend your principal

wat are we producing other than tons of POS operators. yeye cowntry

Bulaba and his team are taking the country back to the stone age.

Imagine Niger wey Ebola wan go fight, their economy have more growth potential than the big for nothing condensed giant

Are they supposed to be there before?

All the countries combined, nor reach Nigeria

Niger😲

E-BOLA Tinubu Amoda is a Criminal


Lol


Hahaha hahaha

E-BOLA Tinubu Amoda is a Criminal

Lol. If it didn't dey, it didn't dey.

Data is stubborn, no amount of propaganda can change data if you like bribe all.media houses to sing your praise, reality and hunger will reset your brain.

1. We warned against Buhari, you called us wailers but data proved us right
2. We warned againt against Tinubu, you called us IPOB now data and hunger is proving us right
3. We are warning against wasteful white elephant new road construction, you are using propaganda to proceed. Soon, unemployment and frustration will set in....unfortunately you will drag the innocent ones along.

Some people were dashed zero IQ from.birth

A failed nation

APC slowpoke spotted.

AJSfan:
Egypty, SA, Morocco, Algeria etc

You can't grow when you do price controls and subsidies

Whatever users like FreeStuffsng, Helinues, Biodun556, duro4chang, Yarimo and the others try to make you believe, this is the reality right here. Facts are very stubborn and cannot be wished away. Neither can they be suppressed with bigotry. God bless us all.

How can Nigeria be there when Tinubu has reduced Nigeria's economy to nothing?

Niger is growing rapidly after sending France away, that's the only way forward for Africa. Send the colonial masters away and grow organically.

socialmediaman:
The people hoping that Tinubu will perform continue to ignore all the warning signs, red flags, and everything that says otherwise.

This government is no good! It’s full of lies and propaganda. They will impoverish you and still convince you that the economy will grow in a few months

You ignored the same warnings about Buhari, how many times will they deceive you before you learn?

Go and better your life, and stop waiting for Tinubu haba.

Even the Almijiris under bridge in Kano City will be saying the same thing like you, that they are waiting for Bola Tinubu to make things better for them.

Racoon:
Nigeria coming nowhere close whenever good indices of economic and developmental progress are being assessed. These are the inglorious trophies the government of a Buhari and his balabloo-blu-bulava druggie cum certificate forger surrogate have won for Nigeria

Nigeria should be there.
After all, we are capable of building a coastal highway from Lagos to the oil producing areas of the Delta region; a coastal highway to be compared with the best of its class in America.

This is really serious. Africa must really integrate her economies, invest in infrastructures like roads to link up everywhere, railways must be looked into to at least decongest the roads and Carry bulky goods easily. We must get there. Europe has really taken advantage of this.

We must encourage more African patronage and create free less bottlenecks on the way we do business among ourselves. God bless Nigeria and bless Africans.

Racoon:
Nigeria coming nowhere close whenever good indices of economic and developmental progress are being assessed. These are the inglorious trophies the government of a Buhari and his balabloo-blu-bulava druggie cum certificate forger surrogate have won for Nigeria

Well the irony is that you will be amongst those that will suffer for their actions.

So you can keep hoping for the worst for your fatherland, so that you can have an excuse to wail.

Burob:
Go and better your life, and stop waiting for Tinubu haba.

Even the Almijiris under bridge in Kano City will be saying the same thing like you, that they are waiting for Bola Tinubu to make things better for them.

The message wasn’t meant for Tinubu’s minions, it was meant for regular Nigerians who are yet to see through government’s lies and propaganda

Kellie069:
All the countries combined, nor reach Nigeria

No reach Nigeria in terms of what?

They all have steady electricity, do you guys have?
Better infrastructure, una get?
Better standard of living, hunger Wan kpai una for nigeria
Better Economy, una economy dey for mud.
Finally. Your mumu president wey be Ecowas president was deceiving una say, military take over in Niger Republic was evil, now see how well they are doing for themselves.

Racoon:
Nigeria coming nowhere close whenever good indices of economic and developmental progress are being assessed. These are the inglorious trophies the government of a Buhari and his balabloo-blu-bulava druggie cum certificate forger surrogate have won for Nigeria

Blame the fraudulent political structure of Nigeria and the
laggards that prop persons like these to apex political leadership of a country which has very well educated people in all disciplines of learning.

Tinubu crisscrossed the SW region for more than 15 years pleading for political restructuring of Nigeria.

Now that Tinubu is in power, he and his SW people cannot talk about political restructuring of Nigeria again. But the moment Tinubu is shoved off power by those favoured by the political structure, Tinubu and his SW people will start all over again to yearn for political restructuring of Nigeria.

socialmediaman:


The message wasn’t meant for Tinubu’s minions, it was meant for regular Nigerians who are yet to see through government’s lies and propaganda

Which tier of government, Federal, State, or Local Government?

We prefer to consult economic oracles than plan to grow.

But how comes that Niger that’s under military rule outshone the great Nigeria

onuman:


Blame the fraudulent political structure and the
laggards that prop persons like these to apex political leadership of a country which has very well educated people in all disciplines of learning.

Nobody dashed them power, they are the best you have, if you had people any better, they would have been the ones in power instead, you cannot give what you do not have.