IMF Raises Nigeria’s 2025 GDP Growth Forecast to 3.4% Amid Economic Reforms

The International Monetary Fund (IMF) has revised its 2025 economic growth projection for Nigeria, forecasting a 3.4% increase in Gross Domestic Product (GDP). The upward adjustment follows a thorough evaluation of Nigeria’s macroeconomic trends, policy shifts, and ongoing structural reforms initiated by the federal government.

According to the IMF, the improved outlook is driven by a combination of higher oil production, efforts to stabilize the exchange rate, and strategic policy measures designed to attract investment and diversify the economy beyond oil. Key reforms in energy pricing, tax policy, and the Central Bank of Nigeria’s monetary framework were noted as contributing factors to the more optimistic forecast.

The Fund also commended Nigeria’s ability to navigate global economic headwinds, including inflationary pressures and geopolitical instability, positioning the country for moderate but consistent growth. However, the projection remains conditional on the government’s sustained reform agenda and its capacity to maintain macroeconomic stability while tackling infrastructure deficits and social inequality.

While the IMF’s forecast has been met with cautious optimism by Nigerian economists and analysts, many stress the importance of translating growth into widespread economic benefits. Experts are urging the government to prioritize inclusive development by investing in sectors such as agriculture, manufacturing, and digital innovation.

The IMF further advised that continued progress will depend heavily on good governance, fiscal transparency, and the implementation of well-targeted social programs aimed at reducing poverty and improving livelihoods.