• About
  • Advertise
  • Careers
  • Contact
Saturday, July 5, 2025
  • Login
No Result
View All Result
NEWSLETTER
Reporters At Large
  • Home
  • News
    • World
    • For The Record
    • Metro
    • Opinion
    • Press Releases
  • Business
    • Auto Trend
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • Privacy
    • Disclaimer
    • Contact Us
  • Home
  • News
    • World
    • For The Record
    • Metro
    • Opinion
    • Press Releases
  • Business
    • Auto Trend
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • Privacy
    • Disclaimer
    • Contact Us
No Result
View All Result
Reporters At Large
No Result
View All Result
Home Business

World Bank Projects 3.5% GDP Growth For Nigeria In 2025

by ReportersAtLarge
January 17, 2025
in Business
Reading Time: 2 mins read
0
world bank
Share on WhatsappShare on FacebookShare on TwitterShare on Linkedin

In its latest Global Economic Prospects report, the World Bank forecasted that Nigeria’s economy would grow by 3.5% in 2025 and rise slightly to 3.7% in 2026.

This projection reflects a modest recovery for the nation amidst persistent economic challenges and global uncertainties.

According to the report, Nigeria’s economic growth improved to an estimated 3.3 per cent in 2024, driven primarily by strong activity in the services sector, mainly financial and telecommunication services.

ADVERTISEMENT

The report read, “In Nigeria, growth increased to an estimated 3.3 per cent in 2024, mainly driven by services sector activity, particularly in financial and telecommunication services.

“Macroeconomic and fiscal reforms helped improve business confidence. In response to rising inflation and a weak naira, the central bank tightened monetary policy.

RelatedPosts

Makinde Turning Oyo To A 24-Hour Economy – Hotelier Association President, Ogundele

Petrol Scarcity Looms As Tanker Operators Protest N12,500 Levy

MultiChoice To Begin Sports-Only Package After Losing Millions Of Subscribers

“Meanwhile, the fiscal deficit narrowed due to a surge in revenues driven by the elimination of the implicit foreign exchange subsidy, following the unification of the exchange rate and improved revenue administration.”

The World Bank noted that gradually declining inflation following monetary tightening measures in 2024 would support Nigeria’s projected growth for 2025 and 2026.

This is expected to boost domestic consumption and further support the services sector, which remains the main driver of economic growth.

The report highlighted that growth in Nigeria and South Africa contributed to the rise in the regional average to 2.2 percent in 2024.

Nigeria’s higher oil production and South Africa’s improved electricity supply were pivotal to this performance.

The rest of Sub-Saharan Africa experienced an average growth rate of 4.0 per cent during the same period.

The World Bank expects Nigeria’s economic growth to strengthen to an average of 3.6 percent annually in 2025 and 2026. Robust services sector activity and recovering domestic demand will play a central role.

Its report read, “Growth in Nigeria is forecast to strengthen to an average of 3.6 per cent a year in 2025-26.

“Following monetary policy tightening in 2024, inflation is projected to gradually decline, boosting consumption and supporting growth in the services sector, which continues to be the main driver of growth.

“Oil production is expected to increase over the forecast period but remain below the OPEC quota. The baseline forecast implies that per capita income growth will remain weak over the forecast horizon.”

Despite these projections, the World Bank identified persistent risks to Nigeria’s economic recovery.

These include inflationary pressures, weak naira, high debt-servicing costs, and vulnerabilities in fiscal buffers.

Tags: BANKeconomyNigeriaWorld Bank
SendShareTweetShare
ReportersAtLarge

ReportersAtLarge

Reporters At Large is the world’s fastest-growing online news platform and public service broadcaster. We’re impartial and independent, and every day we create distinctive, world-class programmes and content which inform, educate and entertain millions of people in Nigeria and around the world.

More

Ayodele Ogundele President of Hoteliers Association
Business

Makinde Turning Oyo To A 24-Hour Economy – Hotelier Association President, Ogundele

by ReportersAtLarge
June 30, 2025
0

Mr Ayodele Ogundele, President of Hoteliers Association of Oyo State, has lauded Oyo State governor, ‘Seyi Makinde, for providing the...

Read moreDetails
Fuel Scarcity in Nigeria - Petrol Scarcity
Business

Petrol Scarcity Looms As Tanker Operators Protest N12,500 Levy

by ReportersAtLarge
June 17, 2025
0

Nigeria may be facing another wave of fuel scarcity as petroleum marketers and truck owners protest the enforcement of a...

Read moreDetails
MultiChoice subscribers - DSTV - GoTV
Business

MultiChoice To Begin Sports-Only Package After Losing Millions Of Subscribers

by ReportersAtLarge
June 14, 2025
0

The last two years have been doubly tough for the MultiChoice Group, and its latest audited results show that it...

Read moreDetails
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

10th NASS - Natives supports Akpabio

10th NASS: Natives Opposes Yari’s Senate President, Gives Reason

2 years ago
Jenelle Rouse first Black deaf to earn PhD in Canada

Black Woman Makes History As First-Ever Deaf Person To Bag PhD In Canada

3 years ago

Popular News

  • Olubadan of Ibadan Oba Owolabi Olakulehin

    Makinde, Senator Alli Celebrate Olubadan On 90th Birthday, First Coronation

    0 shares
    Share 0 Tweet 0
  • PEAC/PFIPC Is A Boost For Nigeria’s Economy – McDons Hotel Boss, Dr. Akweke

    0 shares
    Share 0 Tweet 0
  • Ogidan’Birin Set To Launch WADEN At Akungba Day 2025

    0 shares
    Share 0 Tweet 0
  • Stakeholders Urge Sharing Of Community Experiences On Climate Change Impacts

    0 shares
    Share 0 Tweet 0
  • Court Affirms Senate’s Right To Suspend Natasha

    0 shares
    Share 0 Tweet 0

Connect with us

ADVERTISEMENT

About Us

Reporters At Large is the world’s fastest-growing online news platform and public service broadcaster. We’re impartial and independent, and every day we create distinctive, world-class programmes and content which inform, educate and entertain millions of people in Nigeria and around the world.

With a high level of professionalism, fairness, objectivity, accuracy and speed, we publish Breaking News Nigeria Today Headlines and International news on Politics, Tourism and Travel, Entertainment, Sports, Business Lifestyle and Sports.

Category

  • Auto Trend
  • Breaking Bones
  • Business
  • Columns
  • Entertainment
  • Featured
  • For The Record
  • Health
  • Innovation
  • Lifestyle
  • Metro
  • News
  • Opinion
  • People & Events
  • Politics
  • Press Releases
  • Science & Technology
  • Sponsored
  • Sport
  • Tourism & Culture
  • Video
  • Video News
  • WorldNews

Recent Posts

  • Makinde, Senator Alli Celebrate Olubadan On 90th Birthday, First Coronation July 5, 2025
  • PEAC/PFIPC Is A Boost For Nigeria’s Economy – McDons Hotel Boss, Dr. Akweke July 5, 2025
  • Ogidan’Birin Set To Launch WADEN At Akungba Day 2025 July 4, 2025
  • Stakeholders Urge Sharing Of Community Experiences On Climate Change Impacts July 4, 2025
  • Court Affirms Senate’s Right To Suspend Natasha July 4, 2025
January 2025
SMTWTFS
 1234
567891011
12131415161718
19202122232425
262728293031 
« Dec   Feb »
  • Home
  • News
  • Business
  • Politics
  • Tourism
  • Lifestyle
  • RAL TV
  • More

© 2016-2024 RAL - Guided by professionalism

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • World
    • For The Record
    • Metro
    • Opinion
    • Press Releases
  • Business
    • Auto Trend
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • Privacy
    • Disclaimer
    • Contact Us

© 2016-2024 RAL - Guided by professionalism

Verified by MonsterInsights