Nigeria's economy grew 4.6% in 2024, its fastest in a decade, but faces high inflation.

Nigeria's economy saw robust growth in 2024, with a 4.6% year-on-year increase in the fourth quarter, the fastest in a decade, according to the World Bank. Fiscal reforms, ending petrol subsidies, and foreign exchange reforms contributed to this growth. However, high inflation remains a challenge, with the World Bank projecting a 22.1% annual average in 2025. Nigeria's stock market also showed strong gains, with the All-Share Index rising by 2.5%, reflecting positive investor sentiment and strong earnings. Nigerian banks increased their exposure to the oil and gas sector, despite economic volatility.