The Nigerian Economic Summit Group, NESG, has forecast a significant appreciation of the naira, predicting an average exchange rate of N1,300 to the US dollar in 2025, provided the country commits to an optimal stabilisation pathway.
In its 2025 economic outlook, released on Thursday, the NESG attributed its projection to anticipated growth in foreign exchange earnings, bolstered by increased crude oil revenues, revitalised manufacturing activities in the oil refining sub-sector, and enhanced agricultural productivity.
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The group also projected Nigeria’s real GDP growth to reach 5.5% in 2025, contingent upon the successful implementation of wide-ranging stabilisation reforms. These reforms, it said, are designed to tackle both cross-sectoral and sector-specific challenges, fostering inclusive growth across key industries.
The NESG emphasised that achieving this ambitious growth would mark a departure from 2024’s limited sectoral expansion, during which only four of the nation’s 20 key sectors recorded growth rates exceeding 5%.
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