Overview

• The World Bank’s Nigeria Development Update credits subsidy removal, naira devaluation and tax changes with early stabilization.
• Output rose 3.9% year on year in the first half of 2025, with growth projected at 4.2% in 2025 and 4.4% by 2027.
• External buffers strengthened as reserves climbed above $42 billion and the current account surplus widened to 6.1% of GDP.
• Fiscal metrics improved with a 2025 deficit projected at 2.6% of GDP and public debt expected to fall to 39.8% from 42.9%.
• The Bank flags 139 million people in poverty and a fivefold jump in the basic food basket since 2019, urging measures to cut food prices, boost fiscal transparency and expand cash transfers.