In a promising forecast, the International Monetary Fund (IMF) predicts Nigeria’s economy will soar to $1.85tn by 2029, in Purchasing Power Parity (PPP) terms. This signals a remarkable growth trajectory for the country over the next five years.
According to IMF data, Nigeria’s GDP in PPP terms has consistently increased, from $1.36tn in 2023 to a projected $1.852tn in 2029. This steady growth trend is expected to continue, with a notable 5.5% increase anticipated in 2029.
The Fund also forecasts Nigeria’s share of global GDP based on PPP to reach 0.78% by 2029, a slight increase from 0.77% in 2023. This indicates a steady expansion of the country’s economy, despite previous challenges.
Economists attribute this positive outlook to Nigeria’s efforts to diversify its economy, invest in infrastructure, and attract foreign investment. Shadrach Israel, an economist, notes that the government’s reforms and initiatives have contributed to the country’s economic growth.
With a steady recovery and growth trend over the past few years, Nigeria’s economy is poised for significant growth, signaling a promising future for the country.
……………..
For Advertisement, Event Coverage, Public Relations, Story/Article Publication, and other Media Services, kindly send an email to: thelegendnews25@gmail.com. To stay updated with the latest news, health updates, happenings,Sports and interesting stories, visit thelegendnewsng.com . THE OBINJA MEDIA COMMUNICATIONS (Publisher of TheLegendNews/THELEGENDTV)
