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The Digest:

The International Monetary Fund (IMF) has excluded Nigeria from its list of the fastest-growing economies in sub-Saharan Africa, despite projecting a 3.4% GDP growth rate for the country in 2025. The IMF’s Regional Economic Outlook instead highlighted Benin, Côte d’Ivoire, Ethiopia, Rwanda, and Uganda as the region’s top performers, noting that growth remains weak in resource-intensive and conflict-affected nations.

Key Points:
  • Nigeria was excluded from the IMF’s list of fastest-growing African economies.
  • The fund projected 3.4% GDP growth for Nigeria in 2025.
  • Benin, Côte d’Ivoire, Ethiopia, Rwanda, and Uganda were named top performers.
  • Inflation is expected to remain in double digits in Nigeria through 2025.
  • High public debt and fiscal fragility were cited as key vulnerabilities.
  • The IMF acknowledged Nigeria’s recent tax and exchange rate reforms.
  • Regional growth is projected to remain at 4.1% in 2025.
While Nigeria continues its path of economic reform, this exclusion underscores the persistent challenges of inflation, debt, and structural constraints that cloud its growth narrative.

Sources: The Cable