The International Monetary Fund (IMF) has upgraded Nigeria’s economic growth forecast to 3.9 per cent in 2025, citing, among others, improved appreciation in the exchange rate.
It reviewed this in the World Economic Outlook (WEO) unveiled at its ongoing annual meetings in Washington, D.C, on Tuesday, October 14.
The projection of 3.9 per cent is an upgrade from its initial forecast of 3 per cent.
READ ALSO: CBN’s 48-hour ATM Refund Policy Timely, Long-awaited Says FCCPC
The Bretton Woods financial institution also projected that Nigeria’s economic growth will further rise to 4.2 per cent in 2026.
Commenting, IMF’s Division Chief, Research Department, Deniz Igan, said the revised outlook reflects reduced uncertainty and the limited impact of the United States’ tariffs on Nigeria, given the country’s limited exposure.
It also reflects appreciation of the naira since July and the rising investor confidence as contributing factors.
READ ALSO: Africa Must Remove Disincentives to Investments – Oyedele
“And since July, we also had the exchange rate appreciating, financial conditions strengthening with the increase in investment confidence.
“And on top of that, we also have fiscal stance remaining supportive, and hydrocarbon growth was also revised up with higher oil production on increased security,” Igan added
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
