According to CBN Governor, Nigeria's inflation is expected to decline to 21.4% in 2024

The governor clarified the government's initiatives to combat inflation and stabilize the foreign currency market in his speech.According to Mr. Yemi Cardoso, the governor of the Central Bank of Nigeria (CBN), Nigeria's inflationary pressure will significantly decline in 2024, from 28.92% to 21.4%.During his Tuesday, January 06, 2024, speech to the House of Representatives in Abuja, Cardoso ascribed the anticipated decrease to the Federal Government's inflation-targeting efforts.He clarified that raising agricultural output and reducing the strain on the world supply chain would help control inflation in addition to government initiatives. "Inflationary pressures are expected to decline in 2024 due to the CBN’s inflation-targeting policy, aiming to rein in inflation to 21.4%," said Cardoso.