• About
  • Contact
  • Advertise
  • Privacy Policy
  • Terms Of Use
Saturday, July 5, 2025
No Result
View All Result
Converseer
  • Home
  • News
    • General News
    • Education
    • Business
    • Security
    • Entertainment
    • Lifestyle
    • Tourism
  • Politics
  • Metro
  • Jobs
  • Sports
  • Health
  • Tech
  • More
    • Science & Nature
    • Agriculture
    • Opinion
    • Feature
    • Fact Check
    • History
    • Profile & Biography
    • Special Reports
  • Home
  • News
    • General News
    • Education
    • Business
    • Security
    • Entertainment
    • Lifestyle
    • Tourism
  • Politics
  • Metro
  • Jobs
  • Sports
  • Health
  • Tech
  • More
    • Science & Nature
    • Agriculture
    • Opinion
    • Feature
    • Fact Check
    • History
    • Profile & Biography
    • Special Reports
No Result
View All Result
Converseer
No Result
View All Result

World Bank Forecasts Nigerian Economy to Expand by 3.6% in 2025 and 2026

by Editorial Team
18 January 2025
in News
World Bank Forecasts Nigerian Economy to Expand by 3.6% in 2025 and 2026

The World Bank has projected that Nigeria’s economy will grow to 3.6 per cent between 2025 and 2026 following ongoing reforms by the Federal Government.

The global bank gave the projection in its report titled “Global Economic Prospects”, January 2025 published on Thursday.

This growth projection, according to the international lender is due to recent reforms by the Federal Government which has helped to boost business confidence.

The report reads, “In Nigeria, Gross Domestic Product, GDP, 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.

“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.

Continuing, the report noted, “Growth in Sub-Saharan Africa, SSA is expected to firm to 4.1 per cent in 2025 and 4.3 per cent in 2026, as financial conditions ease alongside further declines in inflation. Following weaker-than-expected regional growth last year, growth projections for 2025 have been revised upward by 0.2 percentage points, and for 2026 by 0.3 percentage points, with improvements seen across various subgroups. At the country level, projected growth has been upgraded for nearly half of SSA economies in both 2025 and 2026” it noted.

The bank added that oil production is expected to increase over the forecast period but remain below the OPEC quota.

“In addition, the international lender noted that despite having the largest economy and population in SSA, Nigeria has a modest intraregional role as an export destination and does not yet have a substantial role as a source of FDI or remittances, although its banks have a regional presence” it noted.

By: Babajide Okeowo

Tags: General News

Related News

News

Mohamed Salah signs new £375,000-per-week Liverpool deal to end long contract saga

3 months ago
President Trump Signs Executive Order to Abolish Birthright Citizenship
Lifestyle

President Trump Signs Executive Order to Abolish Birthright Citizenship

6 months ago
Lifestyle

Another Fuel Tanker Blasts in Niger State

5 months ago
News

BREAKING: Eight Persons Dead In IED Explosion By Boko Haram On Damboa-Maiduguri Road In Borno

3 months ago
El-Rufai's Son Calls for an Open Investigation into Former Governor's Administration
News

El-Rufai’s Son Calls for an Open Investigation into Former Governor’s Administration

5 months ago
News

Couple executed with gunsh0ts to the head in Rome

3 months ago

Latest News

Community forces man to marry his 13-year-old daughter after impregnating her in Cross River

Reactions trail Imoke’s defection from PDP to ADC

Veterans back Comrade Bassey for Cross River NUJ Chair

Otu approves N18bn for Tinapa, Ranch, others

Cross River begins employment of lawyers into civil service: See how to apply

Sexual violence of minors goes beyond just rape – Project Alert

About Us

Converseer is an online newspaper that delivers impartial, comprehensive news coverage on politics, business, health, tech, metro, and education, among other topics.

Social Media

  • Facebook
  • WhatsApp
  • X (Twitter)
  • YouTube
  • Telegram

Coverage

  • Africa
  • Americas
  • Asia
  • Europe
  • Middle East

Special Pages

  • Special Reports
  • Fact Check
  • Feature
  • Opinion
  • History
  • About
  • Contact
  • Advertise
  • Privacy Policy
  • Terms Of Use

© 2025 Converseer - All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • General News
    • Education
    • Business
    • Security
    • Entertainment
    • Lifestyle
    • Tourism
  • Politics
  • Metro
  • Jobs
  • Sports
  • Health
  • Tech
  • More
    • Science & Nature
    • Agriculture
    • Opinion
    • Feature
    • Fact Check
    • History
    • Profile & Biography
    • Special Reports

© 2025 Converseer - All Rights Reserved.