The International Monetary Fund (IMF) has revised Nigeria’s economic growth forecast upward, projecting a Gross Domestic Product (GDP) growth of 3.4 per cent in 2025 and 3.2 per cent in 2026.
This comes as an economics and Managing Director of Financial Derivatives Company Ltd, Bismarck Rewane, emphasised the need for Nigeria to resolve its lingering power supply issues, saying continued outages pose a significant threat to national economic growth.
The revision by the IMF was contained in the IMF’s latest World Economic Outlook (WEO) released yesterday, titled “Global Economy: Tenuous Resilience amid Persistent Uncertainty.”
The latest prediction was a 0.4 percentage point uptick from the earlier three per cent growth forecast for 2025, and a 0.5 percentage point revision from the 2.7 per cent projection for 2026, as published in the April edition of the WEO.
However, the multilateral institution called for urgent structural and institutional reforms across Sub-Saharan Africa (SSA) as the region grapples with a complex mix of economic challenges.
