The Worldwide Financial Fund (IMF) has trimmed its {economic} development projection for Nigeria in 2025 to three.0%, citing falling world crude oil costs.
The revised outlook was detailed within the IMF’s April 2025 World {Economic} Outlook report, launched throughout its Spring Conferences with the World {Bank} in Washington, DC.
The newest forecast marks a 0.2 share level drop from the earlier estimate of three.2%.
“For sub-Saharan Africa, development is predicted to say no barely from 4.0% in 2024 to three.8% in 2025, earlier than recovering modestly to 4.2% in 2026,” the IMF said.
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The report added: “Among the many bigger economies, the expansion forecast for Nigeria is revised downward by 0.2 share level for 2025 and 0.3 share level for 2026, owing to decrease oil costs.”
South Africa and South Sudan additionally noticed sharp downward revisions.
For South Africa, the IMF famous: “The expansion forecast is revised downward by 0.5 share level for 2025 and 0.3 share level for 2026, reflecting slowing momentum from a weaker-than-expected 2024 efficiency, deteriorating sentiment as a result of heightened uncertainty, intensification of protectionist insurance policies, and a deeper slowdown in main economies.”
South Sudan’s development forecast was slashed considerably. “South Sudan has a downward revision of 31.5 share factors for 2025 as a result of delays in resuming oil manufacturing following injury to a key pipeline,” the IMF reported.
