LAGOS, March 21 (Xinhua) -- The Nigerian economy has maintained a positive growth trajectory for nine consecutive quarters since exiting the recession in 2020, the Central Bank of Nigeria (CBN) said Tuesday.
The improved performance has been driven largely by sustained growth in the services and agricultural sectors, said Governor of the CBN Godwin Emefiele at the end of the Monetary Policy Committee meeting in Abuja, the nation's capital.
He also attributed the growth to a rebound in economic activities and continued intervention in growth-enhancing sectors by the CBN, adding that output growth recovery is expected to continue in 2023 and 2024.
"The committee, however, observed with concern the marginal increase in headline inflation in February to 21.91 percent, a 0.09-percentage-point increase from the month before," he said, adding that the increase was largely due to a minimal rise in the food component. ■