be like say Nigeria economy don begin show small light for tunnel, as World Bank don project say the country public debt go finally drop below 40% of GDP — something wey never happen for more than 10 years.
For di October 2025 Nigeria Development Update (NDU) wey dem title “From Policy to People: Bringing the Reform Gains Home,” World Bank yarn say Nigeria economy dey bounce back small-small because of beta fiscal management, reforms wey dey work, and improvement for non-oil sectors like services, agriculture and industries.
According to di report, Nigeria economy grow reach 3.9% for first half of 2025, compared to 3.5% same time last year. World Bank talk say na services and non-oil industries carry the growth for head, and oil production plus agriculture don still help small.
Dem yarn say, “Nigeria external reserve don pass $42 billion, current account surplus don reach 6.1% of GDP, and non-oil export don increase well-well. Even though oil price still dey low, the federal deficit still remain around 2.6% of GDP— same as 2024. But the sweet part be say public debt don finally reduce from 42.9% to 39.8% of GDP.”
World Bank Senior Economist for Nigeria, Samer Matta, talk say inflation still high but e dey reduce small-small. He talk say government must continue to hold monetary discipline and maintain reforms wey go reduce food prices — wey he call “the biggest tax on the poor.”
World Bank Country Director for Nigeria, Mathew Verghis, also add say:
“The Nigerian government don take bold steps to stabilize the economy, and e don begin show small result. But real success go be when the reforms begin improve daily life of poor and ordinary Nigerians.”
Even though di figures dey look good, di report still warn say people never really feel the improvement yet. Poverty and food wahala still plenty, as food prices don rise more than five times since 2019. Dem note say many Nigerians dey use almost 70% of their income buy food.
Di World Bank advise government make e continue to focus on reducing inflation, improve public services, and create better support for poor people.
