IMF forecasts growth in GDP per capita for Africa and Nigeria starting in 2025

Over the years, many African countries, including Nigeria, have experienced economic turbulence caused by fluctuating global markets and domestic challenges. However, amidst these challenges, there’s hope as IMF economic forecasts point toward growth.

According to the IMF, GDP per capita in Nigeria and Africa is projected to increase from 2025 after years of stagnation and decline. Nigeria’s GDP per capita fell sharply from $2,197 in 2022 to $877 in 2024. Encouragingly, growth is expected with projections of $1,047 for Nigeria by 2029, signaling a slow but steady improvement in living standards.

Source:

International Monetary Fund

Period:

2010 - 2029
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