The International Monetary Fund Nigeria raised
This its forecast for economic growth in 2025 from 3.0% to 3.4%. July The IMF’s 2025 edition of the World Economic Outlook World Economic Outlook (WEO) announced an upward revision of 0.4 percentage points.
The Fund The forecast for 2026 was also raised, with growth expected to be 3.2%, compared to the April forecast of 2.7%.
Globally The IMF expects economic growth to reach 3.0% and 3.1% in 2025 and 2026, respectively, a slight increase of 0.2 and 0.1 percentage points respectively compared to the previous forecast.
The The WEO also reflects increased optimism for secondary Saharan Africa economies, with growth forecasts for 2025 and 2026 at 4.0% and 4.3%, respectively. These This is a slight increase compared to the 3.8% and 4.2% respectively forecast by April.
Also read: Nigeria Must Deepen Reforms, Tackle High Inflation – International Monetary Fund
“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 explained.
Reacting Regarding the new forecasts of Nigeria, Tunde Abidoye, Head from Equity Research, FBNQuest Merchant Bank said that the IMF data is consistent with the company’s internal forecast, which is based on National Bureau data from 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 said.
He added: “I think the upward revision may reflect the improvement in oil production and the strong performance of the services sector.
“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.”
