The International Monetary Fund has revised Nigeria’s {economic} development projection for 2025, elevating it from 3.0 per cent to three.4 per cent.
This upward revision of 0.4 proportion factors was introduced within the IMF’s July 2025 version of the World Economic Outlook (WEO).
The Fund additionally elevated its forecast for 2026, projecting a development price of three.2 per cent, up from 2.7 per cent forecast in April.
Globally, the IMF expects {economic} development to achieve 3.0 per cent in 2025 and three.1 per cent in 2026, representing slight will increase of 0.2 and 0.1 proportion factors respectively from its earlier forecast.
The WEO additionally displays improved optimism for sub-Saharan Africa, with development forecasts revised to 4.0 per cent for 2025 and 4.3 per cent for 2026. These symbolize marginal will increase from 3.8 and 4.2 per cent projected in April.
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“Growth is expected to be relatively stable in 2025 in sub-Saharan Africa at 4.0 per cent, before picking up to 4.3 per cent in 2026,” the IMF acknowledged.
Reacting to Nigeria’s new projection, Tunde Abidoye, Head of Equity Research at FBNQuest Merchant Bank, stated the IMF’s numbers align with the agency’s inner projections primarily based on knowledge from the National Bureau of Statistics.
“The IMF’s forecast of 3.4% is precisely in line with our in-house view based on the Nigeria Bureau of Statistics, NBS data points,” Abidoye stated.
He added, “I imagine the upward revision doubtless displays improved oil manufacturing and the robust efficiency of companies.
“That said, the range-bound single-digit growth rate forecast still portends cautious optimism, as the growth is still too modest to tackle the poverty problem.”
