Optimism over policy adjustments for Nigeria's double-digit inflation

Nigeria's inflation rate remains in double digits, but economic analysts say the government seems to have come up with a clear economic plan to stimulate the economy.

“With the conditions right now, there's more oil being sold, and the prices are higher, that brings in more money, and government itself has become more disciplined, and an executive order to ease doing business, we are going to come out of recession,” said Ifeanyi Ukoha, the economic analyst.

Although analysts are hopeful of economic improvements, there are still concerns over high unemployment.

Nigeria's government plans to borrow up to 3.5 billion US dollars to support its budget this year to inject more money into key projects like the power sector, mining, and construction. However, Nigeria's economy seems to still be on the long road to recovery.

(CGTN)