₦airaland Forum

Says Medium-Term Prospects Remain Strong, Commends Ongoing Reforms

The International Monetary Fund (IMF) has upgraded Nigeria’s economic growth forecast for 2025 to 3.9 per cent, a 0.5 percentage point increase from its earlier projection.

The Fund attributed the improved outlook to stronger macroeconomic stability, rising investor confidence, and increased oil output.

The upward revision was announced on Tuesday during the presentation of the IMF’s latest World Economic Outlook report at the ongoing World Bank/IMF Annual Meetings in Washington, D.C.

For 2026, the IMF projects Nigeria’s growth to further strengthen to 4.2 per cent, reflecting a 0.9 percentage point improvement from its previous forecast. The Fund said the revision reflects reduced domestic uncertainty and Nigeria’s limited exposure to the new tariffs imposed by the United States, which have had minimal impact due to the country’s modest trade links with the U.S.

According to the IMF, the Nigerian economy has shown notable resilience in recent months. It was observed that the exchange rate has appreciated, financial conditions have improved, and investor sentiment has strengthened since July.

“The country’s fiscal stance remains supportive, while the hydrocarbon sector has benefited from higher oil production and improved security around key installations. These factors together underpin the stronger growth outlook for Nigeria,” the Fund stated.

The IMF also revised its estimate for 2024 growth upward to 4.1 per cent, representing a 0.7 percentage point increase from its earlier forecast.

It explained that the adjustment followed the recent rebasing of Nigeria’s Gross Domestic Product (GDP), which now captures a wider range of economic activities, including those within the informal sector.

On the broader regional outlook, the IMF said Sub-Saharan Africa continues to display resilience, supported by ongoing reforms in key economies such as Nigeria and Ethiopia. However, it warned that resource-dependent and conflict-affected countries still face significant challenges that could weigh on growth.

To unlock the region’s growth potential, the Fund urged governments to strengthen institutions, deepen structural reforms, expand revenue through tax reforms, and enhance debt transparency.

The report also noted that while changes in global trade dynamics continue to influence economic performance, technological investments and fiscal policies are increasingly shaping global growth patterns.

It was observed that the U.S. tariffs announced earlier this year have had only a limited impact on global output due to smaller-than-expected shocks and the private sector’s agility in adjusting supply chains.

Nonetheless, the IMF cautioned that the global outlook remains fragile, highlighting several downside risks such as potential overheating from the AI-driven technology boom, persistent weakness in China’s property sector, slow rebuilding of fiscal buffers, and political pressures on central banks that could undermine credibility and fuel inflation.

Despite these risks, the Fund maintained that Nigeria’s medium-term prospects remain strong, supported by ongoing economic reforms, greater political stability, and favourable oil market conditions.

Brendaniel:
IMF be using the Oluwoles and their president head to play ping pong with gbajue reform advise and statistics, Shehu Sani called them witches and wizards

ogolemati:
see as oyibo they give agbero union hope .the issue is can a man that emptied all his bullion vans to grab power not refill his vans and want more.my own is to see fuel at #50 and dollar #1

NOETHNICITY:
Tinubu seems to be getting things right
It’s just needs to get to the people in the lowest cadres

Brendaniel:
IMF be using the Oluwoles and their president head to play ping pong with gbajue reform advise and statistics, Shehu Sani called them witches and wizards

Lukuluku69:
grandstar

See their Projections/Data and Statistics I was talking about?

This are what they use to peddle/hawk Loans to the so-called emerging markets.

In a little while now, they will tell you that you need yjis and that funding and boom!

Loans.

grandstar:
This is the problem with people like you: you refuse to learn.

Where was the IMF peddling loans here? Zero. The IMF serves as a watchdog.

Please find me one place in the article that they urged the country to borrow money?

Is a 2% or 4% economic growth good for an economy? What should be the desired economic growth rate for Nigeria?

Smartwave:
As expected, you are immune to anything progress 😜😜😜. Ranting master

Basic123:
But when they downgraded it...you celebrated.


You people are E.VI.L!

sparko1:
If the news was bad, you will love it, you will capitalize on it, PO will create a post on X, to reflect the IMF point of view, now that it's the opposite, you will never acknowledge it, sad new is not for me or Nigeria, enjoy with your household.

Lukuluku69:
Stop throwing such words around man. (@ the bolded)

If you don't know their modus operandi, I am telling you now. They bandied Data/Statistics around after which they subtlety ask you to fund it.

You have the options to take it or reject it and more often than not, the emerging markets take.

grandstar:
You're completely wrong.

Show me proof!

The problem is that you hate the instituition and you're simply giving it a bad name in order to hang it.

You prefer to hang on to a conspiracy theory that suits you absurd conclusion.

Lukuluku69:
Feel free to believe whatever opinion/s you have of them.

I hate the Institution? Are you psychic?

Step back and read others opinions and takes about an institution set up by imperialists to continue the exploitation of the developing Nations.