LunagisthubNigeria Excluded from IMF’s List of Africa’s Fastest-Growing Economies
The International Monetary Fund (IMF) has released a list of Africa’s fastest-growing economies, and Nigeria is not among them. Countries like Benin Republic, Côte d’Ivoire, Ethiopia, Rwanda, and Uganda are leading the continent’s growth trajectory, buoyed by sustained policy reforms, improved fiscal management, and investments in infrastructure and manufacturing.
The IMF attributes the strong growth in these countries to .
Improved fiscal management and macroeconomic stability
Strategic investments in infrastructure, such as transportation and energy
Expansion of manufacturing sectors, driving economic diversification
Stable economic policies, reducing inflation and increasing investor confidence
Despite the IMF’s recent upward revision of Nigeria’s growth forecast to 3.9% in 2025, the country’s economy is not among the fastest-growing in Africa. Nigeria’s growth is driven by .
Increased oil production, contributing to economic growth
Enhanced investor confidence, supporting economic stability
Government policies aimed at promoting economic growth
The IMF emphasizes the need for Nigeria to deepen structural reforms, improve electricity supply, curb inflation, and expand non-oil revenue through industrial diversification and better tax administration. With a growing population and increasing demands for goods and services, Nigeria must prioritize economic diversification and reform to achieve sustainable growth and development.
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