The World Bank has projected that Nigeria’s economy will grow by 3.6 per cent in 2025, building on an estimated expansion of 3.4 per cent in 2024, as key macroeconomic reforms begin to stabilise the business environment.
The bank also said Nigeria is now home to 15 per cent of the world’s extremely poor people, according to its latest Africa Pulse report released in April 2025.
The bank’s latest economic forecast, which is contained in the Spring 2025 edition of Africa’s Pulse, reflects a more optimistic view than that of the International Monetary Fund, which revised Nigeria’s 2025 growth rate downward to 3.0 per cent in its April 2025.
According to the World Bank, the projected recovery is anchored on improved performance in non-oil sectors, notably financial services, telecommunications, information technology, and a gradual rebound in oil production, which is expected to align with Nigeria’s OPEC+ quota.
The multilateral lender anticipates that the country’s economic growth will further strengthen to 3.8 per cent by 2027, assuming current reforms are sustained.
