{"id":64594,"date":"2025-04-22T18:04:17","date_gmt":"2025-04-22T18:04:17","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=64594"},"modified":"2025-04-22T18:04:17","modified_gmt":"2025-04-22T18:04:17","slug":"imf-cuts-nigerias-growth-forecast-to-3-percent","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/04\/22\/imf-cuts-nigerias-growth-forecast-to-3-percent\/","title":{"rendered":"IMF Cuts Nigeria\u2019s Growth Forecast to 3 Percent"},"content":{"rendered":"

By Adenike Lawal<\/strong><\/p>\n

Nigeria\u2019s economic outlook just dimmed. The International Monetary Fund has lowered its 2025 growth projection for Africa\u2019s largest economy to 3 percent, trimming it from an earlier forecast of 3.4 percent.<\/p>\n

The revision, announced Tuesday at the IMF and World Bank Spring Meetings in Washington, is attributed to falling oil production and deepening global trade tensions.<\/p>\n

The latest World Economic Outlook reveals growing concern over Nigeria\u2019s fiscal vulnerability, as oil exports weaken and global demand softens.<\/p>\n

The IMF warns that these pressures are squeezing government revenue and complicating planning in an already strained economy.<\/p>\n

\u201cExporters are set to see weakening oil supply and declining revenues, which will affect fiscal space,\u201d the report stated, placing Nigeria among resource-heavy economies facing the brunt of global shocks.<\/p>\n

Adding fuel to the fire is a resurgence of trade protectionism. The United States has rolled out sweeping tariffs, triggering a ripple of retaliations and pushing global tariffs to levels not seen in nearly a century.<\/p>\n

This, according to IMF Chief Economist Pierre-Olivier Gourinchas, signals a reset of the global economic order.<\/p>\n

\u201cThis is a new era,\u201d Gourinchas declared. \u201cWe are navigating through unprecedented uncertainty.\u201d<\/p>\n

The downgrade is part of a wider trend. Emerging markets and developing economies are expected to grow by just 3.7 percent in 2025, rising slightly to 3.9 percent in 2026.<\/p>\n

Sub-Saharan Africa will remain sluggish, slowed by inflation, global fragmentation, and persistent geopolitical risks.<\/p>\n

Meanwhile, global inflation remains stubborn. The IMF projects an average rate of 4.3 percent in 2025, cooling to 3.6 percent in 2026.<\/p>\n

Developed nations like the U.S. are seeing inflationary spikes due to new tariffs, while emerging economies may see milder pressure.<\/p>\n

With the global outlook shifting rapidly, central banks face tough decisions.<\/p>\n

The U.S. Federal Reserve is expected to maintain a cautious stance as it balances inflation control with economic support.<\/p>\n

In its final word, the IMF warned that the year\u2019s economic surprises are far from over.<\/p>\n

\u201cThe unfolding of these trade measures is a significant negative shock to global growth,\u201d the report said, underscoring the volatility shaping the future.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Adenike Lawal Nigeria\u2019s economic outlook just dimmed. The International Monetary Fund has lowered its 2025 growth projection for Africa\u2019s largest economy to 3 percent, trimming it from an earlier forecast of 3.4 percent. The revision, announced Tuesday at the IMF and World Bank Spring Meetings in Washington, is attributed to falling oil production and […]<\/p>\n","protected":false},"author":32,"featured_media":64595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[59],"class_list":["post-64594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/64594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=64594"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/64594\/revisions"}],"predecessor-version":[{"id":64596,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/64594\/revisions\/64596"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/64595"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=64594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=64594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=64594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}