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Analysis by Region - Emerging Markets - Nigeria

Publisher Oxford Economics
Published Jan 10, 2025
Length 6 Pages
SKU # OFE19593723

Description

We are cautiously optimistic that Nigeria will enjoy a more favourable macroeconomic climate this year. Real GDP growth is projected to increase marginally to 3.1% this year from an estimated 3.0% in 2024 while remaining relatively flat over the medium term. The non-oil economy will be a growth driver to be reckoned with in 2025, mainly because of easing price pressures and a potential unwinding of tight monetary policy. Even so, the oil sector will continue to be the cornerstone of the West African economy. The mammoth Dangote Refinery should reach full production capacity in Q2 2025, bringing a steady supply of petroleum products and, possibly, lower petrol prices.

Table of Contents

6 Pages
Nigeria: Tiptoeing into 2025 ‒ a new year but old challenges
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Background
Economic development
Structure of the economy
Balance of payments
Policy and politics

Pricing

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