Nigeria’s Economy Set to Beat Major Global Peers by 2027 – IMF

Nigeria’s Economy Set to Beat Major Global Peers by 2027 – IMF
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‎Nigeria’s economy is projected to grow faster than that of eight major economies, including the United States, United Kingdom, and Germany, by 2027, according to the International Monetary Fund (IMF).
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‎The projection is contained in the IMF’s latest World Economic Outlook, unveiled during its Spring Meetings, where global economic trends and medium-term forecasts were reviewed.
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‎The Fund said Nigeria’s growth outlook is expected to strengthen over the coming years, driven by ongoing economic reforms, improved oil production prospects, and gradual macroeconomic stabilisation.
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‎In contrast, advanced economies such as the United States, United Kingdom, and Germany are forecast to record slower growth, largely due to tighter financial conditions and structural constraints.
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‎The IMF noted that Nigeria’s recent policy shifts—including exchange rate adjustments and efforts to boost non-oil revenue—could enhance investor confidence and support fiscal sustainability if sustained.
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‎However, the Fund warned that risks remain, citing persistent inflation, exchange rate volatility, and structural challenges such as infrastructure deficits and insecurity.
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‎Despite these headwinds, the IMF maintained that Nigeria’s medium-term economic trajectory remains positive, positioning the country ahead of several advanced and emerging economies in the global growth outlook by 2027.