The Nigerian economy is estimated to have grown by about 3.7 per cent in the first half of 2025, driven by improved business conditions and increased oil production.
This was revealed in the report compiled by S&P Global and released on Tuesday.
The World Bank reaffirmed its projection that Nigeria’s economy would grow by 3.6 per cent in 2025, higher than the 3.4 per cent recorded in 2024, despite shifts in global trade dynamics.
This projection is lower than the Central Bank of Nigeria’s estimate of 4.17 per cent and the ambitious 5.5 per cent GDP growth forecasted by the Nigerian Economic Summit Group in January.
According to Muyiwa Oni, Head of Equity Research, West Africa, the estimated 3.7 per cent year-on-year GDP growth aligns with expectations for annual growth of 3.5 per cent.