The World Bank has reaffirmed its projection that Nigeria’s economy will grow by 3.6 per cent in 2025, despite a sharp slowdown in the global economy. This was revealed in the latest edition of the World Bank’s Global Economic Prospects report released on Tuesday.
According to the report, the bank has slashed growth forecasts for nearly 70 per cent of economies around the world, including the United States, China, and Europe. Global growth for 2025 has now been revised down by 0.4 percentage points to 2.3 per cent, due to rising tariffs and increased trade tensions.
The World Bank noted that “higher tariffs and heightened uncertainty posed a significant headwind for nearly all economies.” It added that a further escalation of global trade tensions could make the outlook even worse.
However, Nigeria stands out as a positive exception. Earlier in the year, the World Bank had projected a 3.6 per cent growth for Nigeria in 2025, building on an estimated 3.4 per cent expansion in 2024. This forecast remains unchanged in the latest report.
The bank credits Nigeria’s resilience to ongoing macroeconomic reforms, which are gradually stabilising the business environment. It also noted that monetary policy tightening in 2024 helped curb rapid currency depreciation. As a result, inflation is expected to decline gradually, creating a more stable foundation for economic growth.
Looking beyond 2025, the World Bank expects Nigeria’s economy to grow at an average rate of 3.8 per cent between 2026 and 2027.
