The IMF has projected Nigeria’s economy to grow by 3.0% in 2025, a slight downward revision from its earlier forecast of 3.2%, citing lower oil prices. This growth is lower than the Nigerian government’s ambitious target of 4.6%. Despite the country’s stronger-than-expected 3.84% growth in Q4 2024, driven by an upswing in the non-oil sector, increased agricultural production, and improved services, the IMF expressed concerns over high poverty, food insecurity, and inflation, which continue to hinder inclusive recovery. The IMF acknowledged recent reforms but emphasized the need for broader benefits to reach all Nigerians. While the West African country’s growth outpaces regional peers like South Africa, the IMF cautioned that internal vulnerabilities, such as inflation, unemployment, and food insecurity, may limit long-term prospects.
Sunday, October 19, 2025 - 14:45:34
Columbus, United States | 18°C | Moderate rain
