NewStats: 3,265,490 , 8,186,929 topics. Date: Sunday, 15 June 2025 at 09:40 AM l336e

The International Monetary Fund (IMF) has projected Nigeria’s economy will rise to at least $1.85 trillion in purchasing power parity by 2029.

PPP is a metric used to compare the value of different currencies and their ability to buy the same things. It is used for comparing economic productivity and standards of living between countries.

The prediction by the Washington-based institution suggests a significant growth trajectory for Nigeria’s economy over the next five years.

According to data compiled by the IMF, Nigeria’s gross domestic product in PPP has been on the increase and is projected to rise from $1.44 trillion in 2024 to $1.85 trillion in 2029.

In 2025, the country’s gross domestic product (GDP) in PPP is projected to stand at $1.52 trillion and increase to $1.58 trillion in 2026.

IMF projected the growth will continue in 2027 to $1.67 trillion, and $1.75 trillion in 2028.

The data shows a consistent growth trend, with a notable increase of 5.5 percent expected in 2029.

IMF also forecasted Nigeria’s share of global GDP based on PPP to reach 0.78 percent by 2029.

This represents a slight increase from 0.77 percent in 2023, indicating a steady growth trajectory for the country’s economy.

Nigeria’s purchasing power has declined due to the high cost of living and soaring inflation.

The inflation rate has been on an upward trend rising from 22.41 percent in May 2023 to 33.69 percent in April 2024, while food inflation has climbed to 40.53 percent from 24.82 percent within the same period.

In the past one year, the GDP growth rate has experienced fluctuations.

In the second quarter (Q2) of 2023, GDP was 2.51 percent (year-on-year) in real , falling below the 3.54 percent reported in the same quarter the previous year.

In Q3 last year, the GDP grew by 2.54 percent (year-on-year) in real , higher than the 2.25 percent recorded in the third quarter of 2022.

However, in Q4 2023, the GDP growth rate stood at 3.46 percent (year-on-year) in real , compared to the 3.52 percent recorded in the corresponding period in 2022.

The fluctuation in growth movement continued in Q1 2024, as the GDP growth rate was 2.98 percent (year-on-year) in real , relative to the 2.31 percent recorded in the first quarter of 2023.

https://www.thecable.ng/imf-nigerias-economy-to-hit-1-85trn-by-2029/amp/

If den say the tin go reduce by $1.85 trillion, the thread go full with anti-Nigerian wailing and crying..


God Bless Nigeria, God Bless Asiwaju Tinubu, GCFR.

Another one

COMRADES, I agree with the projection, but not with leaders like apc/Tinubu as president

Y

ok

All these economic growth on paper yet no reflection on the lives of the masses

The bitter Obituarists are allergic to news like this so don't be surprised when they start crying and wailing

Wetin concern us with 2029.
When in 2024 basic things like food is a problem for people.
Shelter and even clothing


Tinubu is just in Aso rock playing lagos politics.
Looking for heads of organizations or judiciary or those that matters or lead to bribe them with the money and future of Nigeria.

Good

IMF are only good at deceiving African countries. Where are all the projections they did in the past? Usual fake projections

Good to hear the positive projection. It's a silver lining in the dark clouds.
God bless Nigeria.

IMF is such a useless organization especially to Nigeria..

How do we savage the current economic situation APC, Buhari and Tinubu have destroyed completely?

instead of okp*lor eyes to focus on his job, he is focused on paying some loophole people in world bodies to praise his non existent work.


if the brown teeth does not get a bragging day, he no dey know how to act. He is very lazy and an egomaniac.

IMF and Speculation are like Black market and Dollars 💵

The guy has sold us to imf and world bank. I Hope Nigeria doesn't turn to another Venezuela

IMF and Tinubu are one. Both of you should keep impoverish Nigerians. May God safe us from you

Which kind lie be dz bayi

Ok

OK o
We are in 2024 and they are projecting 2029,if this is not madness, then I don't know what it is.
There is something annoying about these apc miscreants always shouting obedient this obedient that.
It baffles me to know Legendhero is in USA yet he s this wicked government, those are the direct beneficiaries of this mad istration. If 🇺🇸 is being run like Nigeria, u will not be there.

Is this a prophecy or na weed talk?

Dem wan Bobo us as usual.
The Next thing is to advise Bulaba to remove another subsidy.
We don enter one chance for Naija

Let's finish the talk about the hunger in the land first before una bring 2029 matter.

Kindly make me your data plug, I sell sme data for all networks (MTN , Airtel, 9mobile, Glo) at affordable rate

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Ola9ja23:
The bitter Obituarists are allergic to news like this so don't be surprised when they start crying and wailing

They will lambast IMF now.

But,let IMF report something woeful or make a very bad forecast,they will be happy and praising IMF


Slaves of the packaged FRAUD!

God punish una! Nah una dey use thiefnubuuu anyhow, making our economy to go down.

Squirrel1:
The guy has sold us to imf and world bank. I Hope Nigeria doesn't turn to another Venezuela

The same IMF your okonjo iweaala you over hype came from?

Okay

Some people will hate IMF for this