Nigeria's Fiscal Strategy Faces Economic Challenges

Nigeria's ambitious 2025–2027 Medium-Term Expenditure Framework, projecting a ₦1,400/$ exchange rate and $75 crude oil benchmark, faces skepticism due to the naira's ongoing depreciation and economic instability, raising concerns over increasing public debt and inflation. Analysts predict the naira could fall to ₦1,990/$ by 2025, potentially exacerbating Nigeria's fiscal challenges. In the UK, the autumn budget aims for stability amidst rising taxes and spending, with charities expressing concerns about their financial sustainability against a backdrop of economic turbulence and a 0.1% GDP decline in September 2024. The Consumer Price Index increased to 2.3%, reflecting growing cost pressures despite a nominal growth in regular pay. Meanwhile, decentralized prediction markets are gaining traction in the betting industry, projected to grow significantly from a $56.65 billion valuation in 2023 to $146.36 billion by 2032, with innovative betting systems transforming traditional market dynamics. As businesses prepare for the holiday season, effective forecasting is emphasized as a crucial tool for optimizing resources and managing inventory efficiently.