Nigeria Records Strongest Economic Growth in a Decade, Says World Bank

Nigeria Records Strongest Economic Growth in a Decade, Says World Bank

Nigeria's economy has achieved its fastest growth in nearly ten years, with a notable 4.6% year-on-year expansion in the fourth quarter of 2024, driven by a strong finish to the year and improved government finances, according to the World Bank.

Alex Sienaert, the World Bank's lead economist for Nigeria, revealed the growth figures on Monday, adding that early indicators suggest the positive trend may continue into 2025.

 However, he cautioned that high inflation remains a significant challenge.

The World Bank is set to publish its Nigeria Development Update report today in Abuja, providing a comprehensive review of the country's economic performance and policy developments.