The World Bank has projected Nigeria’s economy will grow by 3.6% in 2025, an improvement from an estimated 3.4% in 2024, as ongoing economic reforms begin to stabilize the macroeconomic environment.
This forecast, published in the Spring 2025 edition of Africa’s Pulse, is more optimistic than that of the International Monetary Fund (IMF), which has downgraded Nigeria’s 2025 growth outlook to 3.0%.
According to the World Bank, the upward revision is driven by strong performance in non-oil sectors, particularly financial services, telecommunications, and information technology.
Easing inflationary pressures and improved business sentiment are also contributing to the positive outlook.
The Bank anticipates further growth acceleration to 3.8% by 2027, assuming Nigeria maintains momentum in implementing key reforms.
“Economic growth is expected to remain moderate in Nigeria,” the report stated. “It is expected to increase from 3.4 percent in 2024 to 3.6 percent in 2025, and slightly rise to 3.8 percent by 2026–27. The gradual recovery is largely driven by the services sector—especially finance, ICT, and transportation—and to a lesser extent, a rebound in oil production approaching Nigeria’s OPEC+ quota.”
In contrast, the IMF’s April 2025 World Economic Outlook presents a more cautious projection, forecasting Nigeria’s growth at 2.7% in 2026 due to weaker oil revenues and persistent structural challenges.
