Lagos, April 25, 2025 – The World Bank has projected a 3.6% economic growth rate for Nigeria in 2025.
The global bank gave the projection in its latest economic forecast contained in the Spring 2025 edition of Africa’s Pulse.
It also projected that the country’s economic growth would further strengthen to 3.8 per cent by 2027 if the current reforms were sustained.
The bank said 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.
“Economic growth is expected to remain moderate in Nigeria. It is expected to increase from 3.4 per cent in 2024 to 3.6 per cent in 2025, and slightly increase to 3.8 per cent in 2026–27.
“The gradual recovery of the Nigerian economy along the forecast horizon is driven primarily by the service sector, specifically, finance, information and communications technology services, and transportation, and to a lesser extent, a rebound in oil production that converges to its OPEC+ quota.”
The World Bank also projected that Nigeria’s headline inflation would ease to 22.1 per cent in 2025, down from 26.6 per cent in 2024, with further moderation to 15.9 per cent by 2027.
It said these forecasts were based on adjusted CPI figures following the rebasing exercise by the National Bureau of Statistics in January 2025.
