CBN Projects Stronger Economic Growth, Easing Inflation Outlook

The Central Bank of Nigeria CBN has projected stronger economic growth and a moderation in inflation, offering cautious optimism for businesses and investors as the country looks ahead to the coming year.

According to the apex bank, Nigeria’s economy is expected to grow steadily, supported by improved foreign exchange stability, higher oil output, and continued expansion in the non-oil sector. Inflation, which has weighed heavily on households and businesses, is also projected to ease gradually.

CBN officials said recent monetary and fiscal reforms are beginning to yield results, with improved investor confidence and stronger external reserves contributing to macroeconomic stability. They added that consistent policy implementation would be key to sustaining the positive outlook.

The growth forecast is expected to be driven by sectors such as telecommunications, agriculture, manufacturing, and services, which continue to show resilience despite economic headwinds. Increased government spending on infrastructure is also expected to support economic activity.

While the outlook is positive, analysts caution that risks remain, including global economic uncertainty, oil price volatility, and domestic security challenges. They stress the importance of maintaining fiscal discipline and policy coordination.

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For businesses, the projection offers hope of improved operating conditions, particularly if inflation eases and purchasing power stabilises. Investors also view the outlook as a signal of potential opportunities across key sectors.

The CBN reiterated its commitment to price stability and sustainable growth, stating that it would continue to deploy appropriate policy tools to support the economy.