The International Monetary Fund has revised Nigeria’s economic growth outlook upward, projecting a 3.9 per cent GDP expansion in 2025, a growth that it pegged on higher oil production, stronger investor confidence, and a more supportive fiscal stance as key drivers.
The updated figures, contained in the IMF’s latest World Economic Outlook titled ‘Global Economy in Flux, Prospects Remain Dim, released on Tuesday, reflects a 0.5 percentage point increase from its previous forecast and signals renewed optimism about the country’s medium-term economic prospects.
In July, the IMF revised Nigeria’s economic growth projection for 2025 upward to 3.4 per cent, a 0.4 percentage point increase from the 3.0 per cent forecast published in its April 2025 World Economic Outlook.
Speaking at the press conference to mark the launch of the report, the Chief of the IMF Research Department, Deniz Igan, said, “Yes, we have revised Nigeria’s growth outlook upwards. For 2025, we now project GDP growth at 3.9 per cent, which is 0.5 percentage points higher than our earlier forecast. We have also upgraded the 2026 growth projection by 0.9 percentage points to 4.2 per cent.
“In fact, the 2024 growth figure has also been revised upward to 4.1 per cent, which is 0.7 percentage points higher than previously estimated.”
