Nigeria, Feb. 25 -- Economic analysts forecast that Nigeria's growth rate will exceed the 3.46% reported in Q3 2024 as the country awaits the release of the Q4 2024 GDP report.

Notwithstanding this projected improvement, the full-year GDP growth rate is predicted to decline below the Q3 figure.

In the budget year 2024, the federal government set a target GDP growth of 3.75%. The growth rate that the government has set for the entire year 2024 is higher than what economists anticipate it to be.

Notably, since the current GDP rebasing project is scheduled to begin in 2025, it will not affect the GDP value for 2024.

Expert Opinions

Industry analysts who were interviewed offered the following predictions on GDP performance.

Investment a...