In a recent report released in Abuja, Veriv Africa, a research and advisory firm focused on data insights, has presented its Nigeria Macroeconomic Outlook for 2025, projecting significant fluctuations in the value of the naira. In a dire scenario, the naira could depreciate to N2000 per dollar, whereas in a more favorable situation, the exchange rate may stabilize around N1790. The report forecasts a Gross Domestic Product (GDP) real growth rate of 3.6 percent in the best-case scenario for 2025. Conversely, in the worst-case framework, the GDP growth could drop to approximately 2.5 percent.
Veriv Africa’s co-founder, Basil Abia, highlighted these findings during the unveiling of the macroeconomic predictions, emphasizing the organization’s goal of providing insights into Nigeria’s complex economic and political landscape through detailed research and expert analysis. The outlook also anticipates an aggregate inflation rate of 31 percent for 2025, with the price of Premium Motor Spirit (PMS) potentially surging to N1100 per litre.
Abia elaborated, “In the best-case scenario, we could expect a GDP growth rate of 3.6 percent alongside an exchange rate of N1790 per dollar. However, if we consider the worst-case scenario, inflation could reach 36 percent, significantly impacting consumer costs. Unfortunately, this suggests tighter financial conditions for households.” Also Read: Quantum Computing: IBM Opens Its First Quantum Data Centre In Europe Abia further emphasized the importance of mitigating the potential negative scenario as many are hoping to avoid the prediction of the dollar soaring to N2000.
This stark contrast between the projections for economic growth and inflation highlights the precariousness of Nigeria’s economy. Veriv Africa is dedicated to equipping policymakers with more comprehensive insights compared to reports from major financial institutions like the International Monetary Fund (IMF) and the World Bank. As Abia stated, “Our aim is to provide local context and depth to economic analyses, enriching the understanding for effective policy design and implementation.”
The organization’s managing director, Omotayo Faro, also noted the emphasis on data-driven decision-making as essential for leveraging Nigeria’s vast potential. She asserted that the 2025 macroeconomic outlook is the culmination of rigorous research by a team of experts and is intended to serve as a resource for stakeholders, businesses, and investors navigating Nigeria’s intricate economic terrain.
Faro expressed optimism that this outlook would empower Nigerians with valuable insights to make informed decisions amid ongoing economic challenges, stating, “We are dedicated to providing high-quality research and analysis that can help shape the future of Nigeria.”
BY KELVIN FELIX @Report Afrique
