IMF Lowers Nigeria’s 2025 Growth Outlook to 3.0% Over Oil Price DipThe International Monetary Fund (IMF) has revised Nigeria’s economic growth forecast for 2025 downward to 3.0%, attributing the change to declining global crude oil prices.
The update was shared in the IMF’s April 2025 World Economic Outlook report, released during the ongoing Spring Meetings of the IMF and World Bank in Washington, DC. This marks a 0.2 percentage point drop from the Fund’s earlier forecast of 3.2%.
“For sub-Saharan Africa, growth is expected to ease from 4.0% in 2024 to 3.8% in 2025, with a slight rebound to 4.2% projected for 2026,” the report stated. The IMF cited lower oil prices as the key reason for revising Nigeria’s projections for both 2025 and 2026—by 0.2 and 0.3 percentage points respectively. Other major African economies were also affected by similar downward revisions.
South Africa’s outlook, for instance, was trimmed by 0.5 percentage point for 2025 and 0.3 percentage point for 2026, reflecting weak performance in 2024, uncertainty, protectionist policies, and global economic slowdowns.
South Sudan’s case was more severe, with a staggering 31.5 percentage point downgrade in 2025, linked to delays in restarting oil production after damage to a key pipeline.
Source : https://www.vanguardngr.com/
