The International Monetary Fund (IMF) has projected that Nigeria’s economy will grow by 3.2% in 2025, a slight increase from its earlier forecast, with inflation expected to drop to 25%. In its World Economic Outlook (WEO) report, the IMF revised Nigeria’s GDP growth for 2024 down to 2.9% amid ongoing economic challenges, including surging inflation and currency depreciation. The report highlights Sub-Saharan Africa’s projected GDP growth rate of 4.2% in 2025 but notes slower-than-expected growth in Nigeria and a 26% contraction in Sudan due to ongoing conflict. Nigeria’s economy showed resilience in the first half of 2024, rising in the first and second quarters, despite macroeconomic shocks such as fuel price hikes and record-high inflation. However, inflation, after a brief slowdown, rose again following a petrol price increase in September.
SOURCE: NAIRAMETRICS