Home Business ECOWAS Parliament Projects Nigeria’s Economy Growth at 2.6% in 2024

ECOWAS Parliament Projects Nigeria’s Economy Growth at 2.6% in 2024

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The ECOWAS Parliament has projected Nigeria’s economy to grow by 2.6% in 2024, despite the surmountable challenges confronting the nation.

This was contained in the country report presented by the Nigerian Delegation at the ongoing 2023 Second Ordinary Session of the ECOWAS Parliament, in Abuja.

The report brought to bare Nigeria’s steady progress in the areas that include politics, security, economy, and human rights.

Presented by a Nigerian lawmaker, Honorable Linda Ikpeazu, the report indicated that Nigeria’s economy has been affected by a number of factors, including the recent Naira redesign policy, low crude oil output, high inflation, and weak growth of the private sector.

The report x-rayed the security situation of the country, noting the challenges posed by insecurity in Nigeria, such as the Boko Haram insurgency, terrorists and violent extremist groups as well as the threat of secessionist movements

The report affirmed President Tinubu’s assurance to prioritise security beginning with the replacement of the nation’s service chiefs in an effort to address these challenges.

The report further hinted that Nigeria’s Supreme Court affirmed the results of the Nigeria President’s election on October 26, 2023, with a pledge on his inauguration to work more closely with member nations to ensure the implementation of ECOWAS decisions and policies.

The report speaking on the situation of human right in Nigeria, said that the government has pledged to investigate violations and bring the perpetrators to book.

Nigeria’s commitment to implementing ECOWAS texts in the areas of Protocol Relating to the Community Levy, Protocol on Free Movement of Persons and Goods, and the Supplementary Act on Equality of Rights Between Women and Men for Sustainable Development in the ECOWAS Region also refected in the report.

The report reiterated Nigeria’s commitment to advancing the growth of the ECOWAS region through various community development initiatives, as well as fulfilling its obligations under the region’s treaties and protocols.

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