Nigeria’s economy to hit $1.85trn by 2029, says IMF

has shown Nigeria’s economy is expected to rise to at least $1.852 trillion in Purchasing Power Parity terms by 2029.

The steady growth in Nigeria’s PPP brings a glimmer of hope that the country’s economic trajectory is on the path of growth. The country’s share of global GDP has remained relatively stable, fluctuating between 0.775 per cent and 0.778 per cent from 2024 to 2028.PPP is a theory in economics that suggests that in the long run, exchange rates between two currencies should adjust to equalize the prices of a basket of goods and services in each country.

In 2024, the country’s GDP in PPP terms stood at $1.44tn, increasing to $1.51tn in 2025, and $1.587tn in 2026. The growth continued in 2027, with a GDP of $1.67tn, and $1.759tn in 2028.

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Nigeria’s economy to hit $1.85tn in five yearsNigeria's economy is expected to reach $1.85 trillion by 2029 in Purchasing Power Parity terms. The Washington-based International Monetary Fund made this forecast in recent data on Nigeria's Gross Domestic Product in PPP terms. IMF data forecasted that the country's GDP PPP terms will move from $1.36 trillion in 2023 to $1.852tn in 2029.
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