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Analysis by Region - Emerging Markets - Nigeria

Publisher Oxford Economics
Published Dec 05, 2025
Length 7 Pages
SKU # OFE20650293

Description

Nigeria started H2 2025 off with an upbeat growth print despite concerns that oil price weakness and tariff disruptions will cause a more pronounced slowdown. That said, real GDP growth did slow, but a solid performance by the non-oil economy somewhat offset the moderation in oil growth. With internal growth drivers set to benefit from cooling price pressures and the naira's strength, we think the Nigerian economy will be well-positioned to weather subdued global oil prices. We thus nudged our real GDP growth prediction for 2025 and 2026 higher by 0.2 ppt.

Table of Contents

7 Pages
Nigeria: Non-oil economy gives lifeline ahead of oil price slide
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Long-term prospects
Alternative long-run scenarios
Background
Economic development
Structure of the economy
Balance of payments
Policy and politics

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