The International Monetary Fund (IMF) has released its latest report on Africa’s economic outlook — and Nigeria is conspicuously missing from the list of the continent’s fastest-growing economies.
According to the IMF’s Regional Economic Outlook for Sub-Saharan Africa, countries such as Benin, Côte d’Ivoire, Ethiopia, Rwanda, and Uganda are driving the region’s growth, thanks to steady reforms, investments in key sectors, and strong fiscal management.
Nigeria, on the other hand, though expected to see a 3.9% growth in 2025, still trails behind the continent’s top performers. The IMF attributes this modest progress to improved oil output, stronger investor confidence, and recent fiscal adjustments — but says the country must do more to unlock its full potential.
IMF Africa Director Abebe Selassie explained that sub-Saharan Africa as a whole is projected to grow by 4.1% in 2025, and even higher in 2026. However, the region continues to face challenges including high inflation, weakened global demand, and rising borrowing costs.
The Fund also warned that Nigeria’s heavy domestic borrowing could strain its financial system and called for greater revenue diversification away from oil.
While several African nations are making strides toward sustained economic expansion, the IMF’s message to Nigeria is clear — bold reforms and smarter fiscal strategies are needed if the country hopes to reclaim its spot among Africa’s growth leaders.