The World Bank has projected an unbroken growth trajectory for Nigeria’s economy over the next three years, forecasting a Gross Domestic Product (GDP) growth rate of 3.6 per cent in 2025, 3.7 per cent in 2026 and 3.8 per cent in 2027.
According to the latest Global Economic Prospects report released by the Bank, Nigeria’s medium-term outlook is expected to be supported by improved oil output, ongoing reforms, and a rebound in investor confidence.
The report highlighted that while the economy is set to expand, challenges such as inflationary pressures, exchange rate volatility, and high fiscal deficits remain key risks to sustained growth.
The Bank further noted that the implementation of macroeconomic reforms by the Nigerian government, particularly in energy pricing, revenue mobilisation, and exchange rate management, will play a crucial role in realising these growth projections.
Nigeria’s growth in 2024 is expected to remain moderate at 3.3 per cent, as structural constraints continue to weigh on the pace of economic recovery.
The World Bank called on Nigerian policymakers to prioritise structural reforms that promote private sector development, enhance infrastructure, and improve human capital to sustain long-term economic expansion.
