The Federal Government has raised its 2025 Gross Domestic Product (GDP) growth projection to 5.0%, up from the earlier target of 4.6%, reflecting renewed optimism about the country’s economic performance.
The new projection contrasts with the International Monetary Fund (IMF) forecast of 3.4% growth for Nigeria in 2025.
Speaking in Lagos at the ribbon-cutting of the new Cheetos plant established by PepsiCo, and a partnership ceremony between PepsiCo and DP World, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the government is committed to creating an enabling environment for businesses to thrive.
Edun noted that the new factory, which sources 90% of its raw materials locally, underscores the bold reforms of President Bola Tinubu aimed at stabilising the economy, boosting industrialisation, and creating jobs.
“With sustainable growth, the GDP is projected to grow by five percent this year. We are seeing real results from our pillars of reform — diversification, industrialisation, and job creation. By sourcing locally and creating jobs, this investment brings to life President Tinubu’s vision of a stronger, more inclusive economy,” Edun said.
Analysts say the government’s ambitious projection will depend heavily on sustaining reforms, stabilising inflation, and driving investments across key sectors.
