The World Bank projects Nigeria's economy to grow by 3.5% in 2025 and 3.7% in 2026, driven by strong performance in the services sector and gradual improvements in macroeconomic stability. Growth in 2024 was estimated at 3.3%, primarily fueled by financial and telecommunication services, alongside fiscal reforms that boosted business confidence.

Looking ahead, declining inflation and increased consumer spending are expected to support economic recovery, with the services sector remaining a key growth driver. However, challenges such as inflationary pressures, a weak naira, and underperforming oil production continue to pose risks to sustained progress, according to the World Bank's Global Economic Prospects report.

Discover how Africa's growing housing demand presents a $1.4 trillion investment opportunity by 2050. Learn about key sectors, urbanization, and market potential.