IMF’s 3.4% growth forecast for 2025: FG committed to sound economic management, says Wale Edun
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Wednesday said it welcomed the release of the International Monetary Fund’s (IMF) findings on Nigeria, reiterating that the Federal Government remains fully committed to sound economic management that promotes macroeconomic stability, broad-based growth, and improved living standards for all Nigerians.
IMF concluded its Article IV Consultation in April 2025 with a forecast of 3.4 per cent Gross Domestic Product (GDP) growth for 2025.
The Director, Press and Public Relations, Federal Ministry of Finance, Mohammed Manga, in a statement noted that the Minister expressed appreciation for the IMF’s recognition of the FG’s ongoing reform efforts and the tangible progress achieved over the past two years. These reforms have contributed to notable improvements in Nigeria’s fiscal and external positions, bolstering investor confidence and strengthening the resilience of the economy.
The Minister also welcomed the Fund’s acknowledgment of advancements in the agricultural sector, particularly increased food production, which has contributed to moderating inflation.
As of May 2025, headline inflation eased to 22.9per cent, while food inflation declined to 21.4per cent—both improvements from the higher levels recorded during the IMF mission.
He further noted the IMF’s positive outlook, which affirms that Nigeria’s economic reforms have positioned the country to better withstand external shocks.
In response to the downside risks highlighted in the IMF’s report—particularly uncertainties in the global economy—. Edun reaffirmed the government’s proactive stance.
He emphasized that the implementation of the 2025 Budget is being carried out with a focus on safeguarding reform gains and ensuring economic stability. The government continues to monitor developments in the international oil market and global trade environment, and is taking responsive measures to mitigate potential risks, while maintaining momentum toward inclusive growth.
