The International Monetary Fund (IMF) has upgraded its forecast for Nigeria’s economic growth in 2025 to 3.4%, marking a 0.4 percentage point increase from its April projection of 3.0%. The revision was published in the July 2025 edition of the IMF’s World Economic Outlook (WEO).
The IMF also raised Nigeria’s 2026 growth outlook to 3.2%, up by 0.5 percentage points from its previous 2.7% forecast.
Regionally, the IMF expects Sub-Saharan Africa to grow by 4.0% in 2025 and 4.3% in 2026, both slightly higher than earlier projections. Global growth forecasts were similarly revised upwards to 3.0% for 2025 and 3.1% for 2026.
“Growth is expected to be relatively stable in 2025 in sub-Saharan Africa at 4.0%, before picking up to 4.3% in 2026,” the report stated.
Reacting to the upward revision, Tunde Abidoye, Head of Equity Research at FBNQuest Merchant Bank, said the 3.4% forecast aligns with internal projections based on data from the National Bureau of Statistics (NBS). He attributed the adjustment to improved oil production and a resilient services sector, but cautioned that the modest growth rate remains insufficient to address widespread poverty.
