In a recent update from the International Monetary Fund (IMF), Nigeria’s economic growth forecast for the year 2024 has been adjusted upward to 3.3 per cent.

This revision was announced in the IMF’s World Economic Outlook for April, which was released during the 2024 Spring Meetings of the World Bank and IMF in Washington, United States.

The updated forecast marks an increase of 0.3 percentage points from the previous 3.0 per cent growth prediction published in the IMF’s January 2024 World Economic Outlook.

However, the IMF has taken a more conservative stance for the year 2025, reducing Nigeria’s economic growth forecast to 3.0 per cent, a slight decrease from the 3.1 per cent projected earlier in January.