In its latest World Economic Outlook, the International Monetary Fund (IMF) has revised down Nigeria’s economic growth forecast for 2024 to 2.9%. This represents a slight dip from the previously projected 3.1%, a result of weaker-than-anticipated economic performance in the early months of the year.
The updated figures were disclosed during the ongoing annual meetings of the IMF and the World Bank, held this October.
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Looking ahead to 2025, the IMF has shown a touch more optimism, nudging its growth forecast for Nigeria up to 3.2%, a modest increase from the earlier prediction of 3.0%.
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