The World Bank, in its latest Global Economic Prospects report, has forecast a positive outlook for Nigeria's economy in 2024. The report predicts gross domestic product (GDP) growth of 4.6%, up from 3.2% in 2023. This projected uptick is driven by several factors, including: Rising oil prices: Global energy markets are expected to remain volatile, with oil prices potentially exceeding current levels. This would benefit Nigeria, a major oil producer, by boosting government revenue and foreign exchange inflows. Improved non-oil sector performance: The World Bank acknowledges ongoing diversification efforts in the Nigerian economy. Growth in sectors like agriculture, manufacturing, and services is expected to pick up, creating jobs and stimulating domestic demand. Gradual easing of inflationary pressures: While high inflation remains a concern, the report anticipates its gradual decline throughout 2024, supported by tighter monetary policy and improved harvest ou...