Nigeria : strongest economic growth in 10 years in 2024 despite inflation

In 2024, Nigeria recorded its strongest economic growth in a decade, with a 3.4% GDP increase, according to the World Bank. Announced on May 12, 2025, this performance is driven by the rebound in the oil and gas sector, as well as strong growth in IT and finance sectors. However, inflation remains high at 22.1%, impacting Nigerians’ purchasing power.