Nigeria Missing from IMF’s List of Africa’s Fastest-Growing Economies Amid Reform Concerns
Nigeria has been left out of the IMF’s latest list of Africa’s fastest-growing economies.
The report cited inflation, weak reforms, and overdependence on oil as key factors slowing growth.
Nigeria has been excluded from the International Monetary Fund’s (IMF) latest list of Africa’s fastest-growing economies, drawing renewed attention to the country’s slow economic recovery and lingering structural weaknesses.
In its newly published Regional Economic Outlook for Sub-Saharan Africa, the IMF identified Benin, Côte d’Ivoire, Ethiopia, Rwanda, and Uganda as the continent’s top growth performers, with regional output expected to hover around 4.1 percent in 2025.
Despite being the continent’s largest economy, Nigeria was absent from the ranking, a development analysts attribute to sluggish reforms, persistent inflation, and an overreliance on crude oil exports. The IMF also cautioned that several African economies, including Nigeria, are facing mounting fiscal stress as they increasingly rely on domestic borrowing due to limited access to foreign credit.
The report noted that inflationary pressures, weak fiscal coordination, and exchange rate volatility continue to weigh on Nigeria’s growth prospects. It urged governments across the region to implement prudent fiscal measures, boost revenue generation, and diversify economic activities to mitigate external shocks.
Economic observers say Nigeria’s exclusion reflects the need for bolder reforms in infrastructure, governance, and financial management. Although ongoing policy adjustments have shown some progress, experts warn that without stronger diversification and investment incentives, Nigeria will continue to trail behind its African peers in growth and competitiveness.
