Nigeria's economy shows recovery signs—growth over 4%, inflation halved
Nigeria's economy is showing strong signs of recovery, with growth over 4% and inflation halved between 2024 and 2025, according to Minister of Industry, Trade and Investment Dr Jumoke Oduwole. Speaking from the World Economic Forum in Davos, she said the World Bank projects continued strong growth above 4%—the highest in over a decade. The minister credited Nigeria's economic reforms, investment drive, and global partnerships for reshaping the outlook and attracting fresh capital from local and foreign investors. Key reforms include modernising trade systems, particularly port operations. A single window project for streamlined customs processing is set to go live at the end of this quarter. Nigeria also launched a commercial investment partnership with the United States in June last year, with US businesses working closely with Nigerian partners. Under the African Continental Free Trade Area, Nigeria has opened air cargo corridors with 13 African countries, halving freight costs for exporters. The 'Nigeria House' debut at Davos is a platform to showcase the country's reform story, investment opportunities, and trade priorities. With inflation easing and growth trending upwards, the question for businesses and individuals is whether this momentum translates into tangible job creation, lower prices, and improved purchasing power in the coming quarters.