The International Monetary Fund on Thursday maintained its growth forecast of 3.3% for Nigeria's economy for 2024 up from 2.9% last year, citing a pick up in services and trade sectors.

It added that outlook for growth was still challenging in Africa's most populous nation and top oil producer, with food price inflation which reached 40% in March, raising food security concern.

"If Nigeria grows at 3.3% that is just above the population dynamics, which is a big challenge," IMF's Axel Schimmelpfenning told journalists.

(Reporting by Chijioke Ohuocha Editing by Bate Felix and Tomasz Janowski)