The International Monetary Fund (IMF) has forecasted Nigeria’s economic growth to reach 3.2% in 2025, with inflation expected to fall to 25% the same year. This marks a slight improvement from its previous projection of 3% earlier in July 2024.
Globally, the IMF’s 2025 economic outlook remains steady at 3.2%, while Sub-Saharan Africa’s growth is forecasted at 4.2%, slightly down from previous estimates. The report attributes slower growth in Nigeria to earlier-than-expected challenges, alongside climate and supply chain disruptions. Additionally, the ongoing conflict in Sudan is predicted to cause a 26% economic contraction.
Inflation in Nigeria is anticipated to decrease further to 14% by 2029.
