The International Monetary Fund (IMF) has cut its economic growth forecast for Nigeria this year to 3.0 percent from the 3.2 percent it projected in January.
The Fund, which stated this in its latest World Economic Outlook (WEO) released, on Tuesday, titled, “A critical juncture amid policy shifts,” also slashed its Gross Domestic Product (GDP) growth forecast for the country next year to 2.7 per cent from the 3.0 per cent it projected in in January.
Indeed, the IMF in its latest WEO report significantly revised down its forecasts for global growth compared with the January 2025 WEO Update, “reflecting effective tariff rates to levels not seen in a century and a highly unpredictable environment.”
