The Central Bank of Nigeria (CBN) projects a 4.17% GDP growth for 2025, driven by fiscal and monetary reforms, stable oil prices, and improved oil production. The bank aims to reduce inflation to 15%, supporting SMEs and fostering a resilient, diversified economy through ongoing reforms.
The Central Bank of Nigeria (CBN) has projected a 4.17% growth in the country's GDP for 2025, signaling a positive outlook for the nation’s economy. During a recent event organized by the Chartered Institute of Bankers of Nigeria (CIBN), Mr. Muhammad Abdullahi, the Deputy Governor of the CBN’s Economic Policy Directorate, presented the optimistic projections. He attributed the expected economic expansion to key fiscal and monetary reforms that have already started to yield results, alongside stable crude oil prices and improved domestic oil production.
Abdullahi further emphasized that the nation’s exchange rate stability would be crucial in maintaining the positive economic trajectory. He also noted that inflation is projected to decrease, with an anticipated target of 15% for 2025. To reach this goal, Abdullahi stressed the importance of collaboration between monetary and fiscal authorities, as well as private sector participation.
The Deputy Governor highlighted the CBN’s focus on ensuring a stable financial environment, one that supports small and medium-sized enterprises (SMEs) and key industries. He also pointed out that the government is working towards diversifying its revenue sources, thus reducing reliance on oil, and implementing tax reforms to improve fiscal sustainability.
Abdullahi encouraged businesses to adapt to the evolving policy landscape, which presents both challenges and opportunities for growth. The CBN’s commitment to supporting economic resilience and fostering innovation was reiterated throughout the discussion.
