The IMF has revised Nigeria’s 2025 economic growth forecast upward to 3.4%, citing improved global conditions.
The International Monetary Fund (IMF) has raised Nigeria’s economic growth forecast for 2025 to 3.4%, up from 3.0% projected in April. This was revealed in the IMF’s July 2025 World Economic Outlook Update.
The upward revision reflects renewed optimism over Nigeria’s economic resilience, driven by stronger global trade, improved financial conditions, and easing tariff pressures. The IMF also forecasts Nigeria’s economy will grow by 3.2% in 2026, a 0.5 percentage point upgrade from its April estimate.
“Global growth is projected at 3.0% for 2025… reflecting stronger-than-expected front-loading in anticipation of higher tariffs,” the report stated.
Nigeria’s first quarter GDP rose 3.13% year-on-year, up from 2.27% in Q1 2024, according to the National Bureau of Statistics. In nominal terms, GDP climbed to N94.05 trillion.
Despite this, the IMF warned the current growth trend may be short-lived, cautioning that the front-loaded trade activity may cause a slowdown in 2026. Nigeria still outpaces South Africa, which remains at a projected 1.0% growth.