Nigeria’s economic prospects for 2025 have sparked cautious optimism among experts, who predict stable growth driven by key reforms and improving financial indicators.
However, they urged the government to maintain focus on sustaining these gains and addressing structural challenges to ensure long-term progress.
Experts project Nigeria’s economic growth to remain stable in 2025, driven by a stable exchange rate and declining inflation.
Speaking at the Lagos Chamber of Commerce and Industry (LCCI) 2025 Economic Review and Outlook Conference, chairman of the Presidential Committee on Fiscal Policy and Tax Reform, Taiwo Oyedele, highlighted key improvements, including local refining capacity and reduced pressures on exchange rates.
He noted that attracting Foreign Direct Investment (FDI) would signify long-term economic confidence.
Oyedele also discussed the significance of rebasing Nigeria’s GDP, which could reshape tax-to-GDP ratios, income classifications, and economic indicators like the Consumer Price Index (CPI).
The tax reform bill, expected to pass by Q1 2025, aims to simplify administration, broaden the tax base, and boost non-oil revenue by 25% by 2026, according to LCCI president, Gabriel Idahosa.
Read Also: NBS Removes Crime Survey Report From Website
Idahosa urged authorities to avoid complacency and maintain fiscal discipline, even if GDP rebasing shows improved figures.
Founder of B.Adedipe Associates Limited, Biodun Adedipe, predicted that economic reforms would begin to yield results, with inflation reaching an inflection point early in 2025 and potentially lowering the Monetary Policy Rate (MPR).
Meanwhile, director-general of the Manufacturers Association of Nigeria (MAN), Segun Kadir-Ajayi, stressed the importance of reform success for the manufacturing sector.
He called for investment in infrastructure and technology, as well as removal of banking constraints.
With consistent reforms, experts believe Nigeria is well-positioned for economic stability and growth in 2025.
