The World Bank has raised its 2025 growth forecast for Nigeria and other sub-Saharan African economies to 3.8%, citing stabilising prices, easing inflation, and recent policy adjustments. The upward revision follows interest rate cuts by central banks, including Nigeria’s Central Bank, which reduced its benchmark rate to 27% last month.
According to the Bank’s latest Africa Pulse report, stronger real incomes and improved exchange rate stability are driving recovery across major economies such as Nigeria, Ethiopia, and Côte d’Ivoire. Growth is projected to average 4.4% over the next two years.
Also Read: World Bank: Nigeria’s Economic Growth Driven by Services, Reforms
However, the Bank cautioned that high debt levels and weak job creation could slow progress. It urged governments to focus on building a business-friendly environment and supporting small and medium-sized enterprises to generate sustainable employment for the region’s rapidly growing youth population.
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