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flag IMF cuts Nigeria's 2025 growth forecast to 3% due to lower oil prices and export revenues.

flag The IMF has downgraded Nigeria's economic growth forecast to 3% for 2025, from 3.2% previously, due to lower global oil prices and reduced export revenues. flag Despite local efforts to refine oil, Nigeria still spends billions on fuel imports, putting pressure on its foreign reserves and currency. flag The IMF also predicts a further slowdown to 2.7% in 2026, reflecting broader economic challenges in Africa.

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