Reported by: Ime Richard Aondofa | Edited by: Henry Owen
Nigeria’s economy is earning strong international praise as sweeping reforms under President Bola Ahmed Tinubu continue to yield measurable results. Global financial bodies such as the World Bank and the International Monetary Fund (IMF) have both revised their outlooks upward, pointing to Nigeria’s remarkable growth, diversification, and fiscal stabilization.
According to new economic data, Nigeria’s GDP grew by 4.23% in the second quarter of 2025, outperforming earlier projections and signaling a decisive recovery trajectory. The IMF now forecasts 3.9% growth for 2025 and 4.2% in 2026, while the World Bank anticipates a further rise to 4.4% by 2027.
This performance stands out against a backdrop of slowing global expansion. The World Bank projects global growth to hover around 3.2% in 2025, with advanced economies expected to post an average of only 1.5%. Analysts say Nigeria’s progress underscores the positive impact of Tinubu’s reform-driven economic agenda, which prioritizes fiscal discipline, deregulation, and investment in productive sectors.
President Tinubu’s economic policies have accelerated Nigeria’s transition from an oil-reliant economy to one powered by diverse sectors. Significant progress has been recorded in agriculture, manufacturing, technology, the creative industry, solid minerals, and the blue economy.
Trade data reveal five consecutive quarters of surplus, with a 44.3% rise in Q2 2025, amounting to ₦7.46 trillion. Non-oil revenue increased by 40.5%, reaching ₦20.59 trillion between January and August 2025. These gains highlight the country’s growing production base and improved revenue collection.
Fiscal reforms have also contributed to renewed macroeconomic stability. The discontinuation of Ways and Means financing, harmonization of exchange rates, and improved transparency in government spending have helped stabilize the Naira and moderate inflation, now at 20.1%.
The Nigerian Customs Service exceeded its revenue targets by ₦390 billion, while the Federation Account Allocation Committee (FAAC) achieved a record monthly disbursement exceeding ₦2 trillion. Experts say these milestones are strengthening fiscal confidence across all tiers of government.
Meanwhile, growing investor confidence has been reinforced by significant foreign investment commitments — including a $300 billion pledge from Qatari investors — signaling Nigeria’s re-emergence as a favorable investment destination.
Despite positive indicators, Nigeria faces continuing challenges such as high food inflation and widespread poverty. The World Bank estimates that 61% of Nigerians may live below the poverty line in 2025, rising slightly to 62% in 2026. Nonetheless, a modest decline is expected by 2027, driven by targeted agricultural reforms and expanded social safety programs.
Economists note that reforms of this magnitude often take time to deliver full results, but early signs suggest a sustainable turnaround is underway. With consistent implementation, they argue, Nigeria could witness long-term improvements in living standards and job creation.
Nigeria’s renewed focus on productivity, transparency, and inclusive growth is setting the stage for a more resilient and self-sustaining economy. The government’s commitment to economic diversification continues to earn praise from international observers who see Nigeria as a rising performer among emerging markets.
As the nation moves forward, the momentum from Tinubu’s “Renewed Hope” agenda is shaping a vision of shared prosperity — one built on stability, innovation, and opportunity for all.
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