IMF sees higher Nigeria inflation in 2020 on minimum wage, tax rises

Nigeria’s government may drive up inflation when it increases a sales tax to partly finance its record 2020 budget and…

Nigeria’s government may drive up inflation when it increases a sales tax to partly finance its record 2020 budget and implements a new minimum wage, the International Monetary Fund (IMF) warned. The country, Africa’s top oil producer and the continent’s largest economy, is faced with the choice of boosting growth in the face of lower oil revenues or fixing its dilapidated road and rail networks, while paying off debts and funding the higher minimum wage.

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