₦airaland Forum

The International Monetary Fund (IMF) has projected that Nigeria’s economy will grow faster than that of the United Kingdom and several advanced economies in 2025, following an upward revision of the country’s GDP growth forecast from 3.0 to 3.4 percent.

The revised projection was contained in the IMF’s latest World Economic Outlook report released on Tuesday. It marks a 0.4 percentage point increase from the Fund’s April 2025 estimate and places Nigeria ahead of countries like the UK (1.2%), Germany (0.1%), Canada (1.6%) and the United States (1.9%) in terms of expected economic expansion.

The report comes on the heels of a rebasing exercise conducted by Nigeria’s National Bureau of Statistics (NBS), which updated the country’s GDP to N372.8 trillion ($243 billion) in 2024 from N314.02 trillion in the previous year. The recalculation was attributed to the inclusion of a broader range of informal sector activities.

Despite the upward revision, Nigeria remains the fourth-largest economy in Africa, behind South Africa, Egypt and Algeria. However, the IMF’s renewed outlook signals confidence in Nigeria’s macroeconomic reforms and the resilience of its economy.

The global lender also adjusted growth projections for other countries, with China rising from 4.0% to 4.8%, Mexico from -0.3% to 0.2%, Brazil from 2.0% to 2.3%, and India from 6.2% to 6.4%. In contrast, the gains for many advanced economies, including the US and UK, were marginal.

The IMF attributed the global forecast improvements to factors such as lower-than-expected US tariff rates, improved financial conditions, a weaker US dollar and fiscal expansions in major economies. Global growth is now projected at 3.0 percent for 2025, up from 2.8 percent earlier this year.

twilliamx:
You will get to see that things are actually improving once you stop thinking with your stomach.
This metrics that you downplay is what foreign investors are looking at before feeling confident enough to invest in your country. Take your negative spirit to ghana

ribbit:
it's reflecting in my own life ..


Always speak for yourself and your life.

ClearFlair:
These people need to stop feeding everybody vanity metrics that don't show any improvement in the life of average person

agentNija:
This is deep.

ClearFlair:
These people need to stop feeding everybody vanity metrics that don't show any improvement in the life of average person

ClearFlair:
These people need to stop feeding everybody vanity metrics that don't show any improvement in the life of average person

ClearFlair:
These people need to stop feeding everybody vanity metrics that don't show any improvement in the life of average person

ClearFlair:
See a typical APC supporter here. I spoke about the average Nigerian but he's speaking about himself alone, exactly the way APC politicians also talk. This is why such people can't like Peter Obi who speaks about improving the lives of the average Nigerian. So because you're doing well, APC is now the best thing in the world after toast bread and others should go and swallow air for lunch abi? 2027 will soon be here na.

ElSudani:
Jeeesus! How can we stop them from seeing this good news?

They don't like it and we don't like to offend them.

anonimi:
May 1, 2025

May Day: Hunger, unemployment, insecurity real— Tinubu

According to him: “The theme demands our collective attention and serves as a stark reminder of the need to create an environment where every worker feels safe, valued, and empowered to contribute to the growth and prosperity of our nation. As your President, I assure you that this administration is committed to creating such an environment for the common good.”

On the economic hardship, he noted that while it is a global phenomenon, its effects on Nigerians are particularly severe.

Tinubu said: “I am aware of the peculiarities of the economic hardship Nigerians face—rising living costs, hunger, insecurity, unemployment, and the loss of livelihoods. These challenges are real and demand definitive solutions, which I am poised to address as your President.

https://www.vanguardngr.com/2025/05/may-day-hunger-unemployment-insecurity-real-tinubu/

iwaeda:
This good oh, hope those who japa, will return back home to build the economy, Amonda is building and enjoy. When we finish deceiving ourselves, we will return home.

Great100000:
https://guardian.ng/news/nigeria/national/nigerias-economy-to-outpace-uk-others-in-2025-imf/#google_vignette

Lawmaker scores Lagos Water Corporation low

A Lagos State lawmaker, Mr Saka Fafunmi, on Thursday expressed dissatisfaction at the performance of the state Water Corporation.

Fafunmi, a member of the Lagos State House of Assembly (LAHA), said in Ikeja that the corporation had not been able to justify statutory allocations to it.

The lawmaker, who represents Ifako-Ijaiye Constituency 1 at the assembly, spoke to the News Agency of Nigeria (NAN).

He said that the corporation had the capacity to generate much fund internally through water rates but had relied solely on government funding because of poor performance.

'' Anyone that is using water will be willing to pay for it; the corporation has not been giving us water.

"Is there any new community that Water Corporation has given water? People depend on boreholes; even government estates have industrial boreholes.

"Why do we keep pumping money into an agency that does not give us the desired results?'' he asked.

He noted that the Adiyan Waterworks was located at Ifako-Ijaiye, where many of the residents had resorted to digging boreholes as a means of getting water.

''A lot of people are falling sick because they don't drink clean water.

''In the same compound, where you have sewage, is where you have a borehole.

''There is no way you can manage the sewage that it will not leak and pollute the water; everyone drinking such is drinking contaminated water,'' he said.

The lawmaker urged the corporation to increase water reticulation and supply to residents.

From: http://www.punchng.com/politics/lawm...rporation-low/
https://repository.upenn.edu/cgi/viewcontent.cgi?article=1056&context=mes_capstones;Ensuring

Shawarmagirl:
Federal government is doing everything possible to stop people from Japa to the UK. Same UK wey I dey abi na another one.

thewinning101:
PANDORA PAPERS: Buhari visited Tinubu in corruption-tainted London villa acquired by Oyetola

Governor Oyetola, a relative of Mr Tinubu, may have sabotaged his own country by buying the exotic property as Nigeria made to seize it.
ByNicholas IbekweandTaiwo-Hassan Adebayo October 7, 2021 in Headline Stories, Pandora Papers Reading Time: 8 mins read

It was a meeting of two of Nigeria’s most influential politicians in London – President Muhammadu Buhari was visiting political kingmaker and senior member of his ruling All Progressives Congress (APC), Bola Tinubu.

In July, the presidency announced that Mr Buhari was heading to London for an education summit. The office also added that the president would also see his doctors for “medical check-up”.

Coincidentally, Mr Tinubu, who had travelled to London earlier, was also receiving treatment for an undisclosed ailment in the British capital. So, a perfect setting for both men to meet was created.

https://www.premiumtimesng.com/pandora-papers/488537-pandora-papers-buhari-visited-tinubu-in-corruption-tainted-london-villa-acquired-by-oyetola.html?tztc=1