The World Bank anticipates a return to Nigeria’s pre-pandemic per capita income level by 2025, signaling gradual economic improvement.
In its Global Economic Prospects report for January 2024, the bank noted a slowdown in Sub-Saharan Africa’s economic growth, including Nigeria, reaching an estimated 2.9% in 2023. It mentioned that challenges, like higher input prices in Nigeria, contributed to this slowdown.
The report highlighted a 1.8% growth rate for the region’s three largest economies – Nigeria, South Africa, and Angola – in 2023.
