Nigeria’s GDP growth to surge to 5.5% – NESG prediction
The Nigerian Economic Summit Group (NESG) has projected a potential 5.5% increase in the nation’s Gross Domestic Product (GDP), fueled by ongoing and efficient policy reforms.
According to reports, this forecast was revealed on Thursday during the presentation of the NESG’s 2025 Macroeconomic Outlook.
Dr. Olusegun Omisakin, NESG’s Chief Economist and Director of Research & Development, expressed optimism about Nigeria’s economic potential if more effective reforms are implemented.
“At the optimal level, if we embark on more efficient policy reforms, the Nigerian economy has the potential to achieve a GDP growth rate of 5.5%, and we believe this is achievable,” Omisakin stated.
In a related development, Deputy Senate President Barau Jibrin has stressed the need for economic growth, as reflected in GDP reports, to translate into tangible benefits for Nigerians.
During a December 2024 Senate plenary, while addressing the joint committees on Finance, National Planning, and Economic Affairs regarding the 2024-2026 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), Jibrin called for robust efforts to ensure realistic and actionable economic projections.
“The government must ensure that these encouraging projections are actively pursued and implemented,” Jibrin noted.
He highlighted a GDP growth projection of 44.4% by 2055 and 5.5% by 2026, driven by investments in infrastructure, agriculture, and telecommunications. However, he cautioned against allowing such projections to remain theoretical.
“This is a welcome development, but as I mentioned earlier, we must ensure these projections move beyond paper and become a reality,” the APC lawmaker concluded.
