“The Nigerian economy will grow at 3.5 per cent (approximately $400bn). Nigeria is on track to becoming the second-largest economy in sub-Saharan Africa,” Rewane said.
He added that the country’s foreign exchange auction system would become more efficient, with unencumbered foreign reserves reaching $20bn.
“There will be an efficient forex auction system, and unencumbered foreign reserves will hit $20bn,” he noted.
On inflation, Rewane projected that the rate would decline to 22 per cent by 2026, expecting the monetary policy rate to be reduced to 20 per cent annually, leading to a decline in the level of bad loans across the banking sector.
“We will see inflation drop to 22 per cent, and the MPR is likely to come down to 20 per cent, which will reduce bad loans,” he explained.
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