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Analysis by Region - Emerging Markets - Nigeria

Publisher Oxford Economics
Published Apr 09, 2025
Length 6 Pages
SKU # OFE20029171

Description

Financial markets are still reeling from President Donald Trump's bold tariff move last week. Commodity prices too have come under immense pressure. Although we think the global economy is likely to skirt a recession, a slowdown will strain oil demand while the recent decision by Opec+ to bring forward a portion of their planned production increases further fuels downward pressure on oil prices. In this forecast round, we maintained Nigeria's real GDP growth estimate for 2025 as PMI figures point to robust services activity and oil production should remain solid throughout the year. Still, we concede intensifying downside risks to our outlook and we have lowered our medium-term Brent crude oil price predictions.

Table of Contents

6 Pages
Nigeria: Trump's tariff broadside sparks oil price meltdown
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

Currency Rates
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