• Latest
  • Trending
  • All
  • Politics
  • Economy
  • Security
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Opinion
  • Columns
  • Exposé
  • World
  • Lifestyle
IMF

IMF Downgrades Nigeria’s 2024 Economic Growth Forecast To 3%

2 years ago
Malawi: Vote Counting Commences After Presidential Election

Malawi: Vote Counting Commences After Presidential Election

19 minutes ago
West Africans Hunt Pangolins Primarily For Food, Study Shows

Nigeria, WJC Seal Pact To Tackle Wildlife Trafficking

2 hours ago
India: Study Reveals More Women Are Diagnosed With Cancer, Men Die More

India: Study Reveals More Women Are Diagnosed With Cancer, Men Die More

17 hours ago
MWC Kigali
Chad: New Constitution Allows President To Contest Unlimited Times

Chad: New Constitution Allows President To Contest Unlimited Times

18 hours ago
Somalia: TikTok Users Arrested Over Dance Video “Insulting” President Mohamud

Somalia: TikTok Users Arrested Over Dance Video “Insulting” President Mohamud

21 hours ago
Wednesday, September 17, 2025
  • About
  • HT Management
  • Privacy Policy
Heritage Times
No Result
View All Result
Translate |
  • Login
  • Politics
    Malawi: Vote Counting Commences After Presidential Election

    Malawi: Vote Counting Commences After Presidential Election

    Chad: New Constitution Allows President To Contest Unlimited Times

    Chad: New Constitution Allows President To Contest Unlimited Times

    Ghana To Host Goodluck Jonathan Foundation’s Democracy Dialogue

    Ghana To Host Goodluck Jonathan Foundation’s Democracy Dialogue

    Terrorism Against Christians: US Senators Push For Nigeria’s Redesignation As ‘Country Of Particular Concern’

    Terrorism Against Christians: US Senators Push For Nigeria’s Redesignation As ‘Country Of Particular Concern’

    Malawi: Campaigns End Ahead Of Tuesday Presidential Polls

    Malawi: Campaigns End Ahead Of Tuesday Presidential Polls

    Tanzania: Electoral Body Accepts Candidacy Of Opposition Figure After Court Ruling

    Tanzania: Electoral Body Accepts Candidacy Of Opposition Figure After Court Ruling

    Albania: PM Appoints World’s First AI-Generated Minister To Oversee Public Tenders

    Albania: PM Appoints World’s First AI-Generated Minister To Oversee Public Tenders

    South Sudan: US Calls For Release Of Detained First VP

    South Sudan: Murder, Treason Charges Against Vice President Sparks Tension With Opposition

    France Gets New Prime Minister After Bayrou’s Resignation

    France Gets New Prime Minister After Bayrou’s Resignation

  • Economy
    Botswana: Nigerian National Appointed As Head Of SWF

    Botswana: Nigerian National Appointed As Head Of SWF

    Why Canada Rejected Over 1,500 Nigerian Asylum Applications In 2025

    Why Canada Rejected Over 1,500 Nigerian Asylum Applications In 2025

    Afreximbank Signs $500m Deal To Boost Nigeria’s Gas Infrastructure

    Afreximbank Signs $500m Deal To Boost Nigeria’s Gas Infrastructure

    AfDB: Egypt To Receive $271 Agricultural Loan To Promote Food Security

    Africa’s Transition States Need $210bn Yearly To Power Transformation – AfDB

    EXPLAINER: 10 Things To Note About Nigeria’s New Tax ID Rules

    EXPLAINER: 10 Things To Note About Nigeria’s New Tax ID Rules

    Nigeria: Govt Inaugurates Committees For Civil Service Personnel Audit

    Nigeria: Govt Launches Civil Service Audit, Targets Future-Ready Workforce

    India To Inject $680 Million Into Mauritius’ Economy

    India To Inject $680 Million Into Mauritius’ Economy

    South Africa: Ramaphosa Sends Officials On Trade Negotiation Trip To US

    South Africa: Ramaphosa Sends Officials On Trade Negotiation Trip To US

    Ethiopia Unveils Africa’s Largest Dam Amid Egypt Tensions

    Ethiopia Unveils Africa’s Largest Dam Amid Egypt Tensions

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
  • Politics
    Malawi: Vote Counting Commences After Presidential Election

    Malawi: Vote Counting Commences After Presidential Election

    Chad: New Constitution Allows President To Contest Unlimited Times

    Chad: New Constitution Allows President To Contest Unlimited Times

    Ghana To Host Goodluck Jonathan Foundation’s Democracy Dialogue

    Ghana To Host Goodluck Jonathan Foundation’s Democracy Dialogue

    Terrorism Against Christians: US Senators Push For Nigeria’s Redesignation As ‘Country Of Particular Concern’

    Terrorism Against Christians: US Senators Push For Nigeria’s Redesignation As ‘Country Of Particular Concern’

    Malawi: Campaigns End Ahead Of Tuesday Presidential Polls

    Malawi: Campaigns End Ahead Of Tuesday Presidential Polls

    Tanzania: Electoral Body Accepts Candidacy Of Opposition Figure After Court Ruling

    Tanzania: Electoral Body Accepts Candidacy Of Opposition Figure After Court Ruling

    Albania: PM Appoints World’s First AI-Generated Minister To Oversee Public Tenders

    Albania: PM Appoints World’s First AI-Generated Minister To Oversee Public Tenders

    South Sudan: US Calls For Release Of Detained First VP

    South Sudan: Murder, Treason Charges Against Vice President Sparks Tension With Opposition

    France Gets New Prime Minister After Bayrou’s Resignation

    France Gets New Prime Minister After Bayrou’s Resignation

  • Economy
    Botswana: Nigerian National Appointed As Head Of SWF

    Botswana: Nigerian National Appointed As Head Of SWF

    Why Canada Rejected Over 1,500 Nigerian Asylum Applications In 2025

    Why Canada Rejected Over 1,500 Nigerian Asylum Applications In 2025

    Afreximbank Signs $500m Deal To Boost Nigeria’s Gas Infrastructure

    Afreximbank Signs $500m Deal To Boost Nigeria’s Gas Infrastructure

    AfDB: Egypt To Receive $271 Agricultural Loan To Promote Food Security

    Africa’s Transition States Need $210bn Yearly To Power Transformation – AfDB

    EXPLAINER: 10 Things To Note About Nigeria’s New Tax ID Rules

    EXPLAINER: 10 Things To Note About Nigeria’s New Tax ID Rules

    Nigeria: Govt Inaugurates Committees For Civil Service Personnel Audit

    Nigeria: Govt Launches Civil Service Audit, Targets Future-Ready Workforce

    India To Inject $680 Million Into Mauritius’ Economy

    India To Inject $680 Million Into Mauritius’ Economy

    South Africa: Ramaphosa Sends Officials On Trade Negotiation Trip To US

    South Africa: Ramaphosa Sends Officials On Trade Negotiation Trip To US

    Ethiopia Unveils Africa’s Largest Dam Amid Egypt Tensions

    Ethiopia Unveils Africa’s Largest Dam Amid Egypt Tensions

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
No Result
View All Result
First with the News

IMF Downgrades Nigeria’s 2024 Economic Growth Forecast To 3%

January 30, 2024
in Economy, Top Stories
0
IMF

IMF

0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

By Lucy Adautin

The International Monetary Fund (IMF) has downgraded its forecast for Nigeria’s 2024 economic growth to 3.0 percent.

Relatedreading

Malawi: Vote Counting Commences After Presidential Election

Nigeria, WJC Seal Pact To Tackle Wildlife Trafficking

This represents one percentage point below the growth forecast of 3.1 percent made in October 2023.

MWC Kigali MWC Kigali MWC Kigali
ADVERTISEMENT

The IMF announced the downgrade in its World Economic Outlook update in January 2024 released today.

The IMF also downgraded the forecast for Sub-Saharan 2024 economic growth to 3.2 percent from 3.4 percent earlier forecast in October last year.

In contrast, the IMF upgraded its forecast for global economic 2024 growth forecast to 3.1 percent from 2.9 percent earlier forecast in October last year.

The IMF stated, “Global growth is projected at 3.1 percent in 2024 and 3.2 percent in 2025, with the 2024 forecast 0.2 percentage point higher than that in the October 2023 World Economic Outlook (WEO) on account of greater-than-expected resilience in the United States and several large emerging market and developing economies, as well as fiscal support in China.”

READ ALSO: Nigeria: CBN Raises Interest Rate To 24.75%

On its forecast for Sub Saharan Africa region, IMF said: “In sub-Saharan Africa, growth is projected to rise from an estimated 3.3 percent in 2023 to 3.8 percent in 2024 and 4.1 percent in 2025, as the negative effects of earlier weather shocks subside and supply issues gradually improve.

“The downward revision for 2024 of 0.2 percentage points from October 2023 mainly reflects a weaker projection for South Africa on account of increasing logistical constraints, including those in the transportation sector, on economic activity.”

The Washington-based institution also announced in its quarterly World Economic Outlook on Tuesday that the global economy is projected to grow by 3.1 percent this year, an increase from the 2.9 percent forecasted in October. The IMF maintained its forecast for 2025 at 3.2 percent.

In addition, the IMF noted the risk of persistent inflation, which may necessitate central banks to maintain higher interest rates for extended periods.

The IMF emphasized on its concern regarding the possible fragmentation of global trade into competing blocs. It projected world trade growth of 3.3 percent in 2024 and 3.6 percent in 2025, which is below the historical average rate of 4.9 percent.

According to the IMF, nations implemented approximately 3,000 new trade restrictions last year, nearly three times the number recorded in 2019.

Tags: IMF
ShareTweetSend
Previous Post

Japa Syndrome: Canadian Province Announces Two-Year Ban On Nigerians, Other International Students

Next Post

AI Strategies Of Microsoft, Google Clouded By Concerns Of Escalating Cost

Related Posts

Malawi: Vote Counting Commences After Presidential Election

Malawi: Vote Counting Commences After Presidential Election

September 17, 2025
West Africans Hunt Pangolins Primarily For Food, Study Shows

Nigeria, WJC Seal Pact To Tackle Wildlife Trafficking

September 17, 2025

Chad: New Constitution Allows President To Contest Unlimited Times

Somalia: TikTok Users Arrested Over Dance Video “Insulting” President Mohamud

China Sails Into UN’s Top 10 Most Innovative Nations, Replacing Germany

Japa: Nigerian Governor Declares 2 Doctors Wanted For Absconding After State-Sponsored Training

Next Post
Microsoft, Google

AI Strategies Of Microsoft, Google Clouded By Concerns Of Escalating Cost

Please login to join discussion
MWC Kigali MWC Kigali MWC Kigali
AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2

Updates

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Malawi: Vote Counting Commences After Presidential Election

Malawi: Vote Counting Commences After Presidential Election

September 17, 2025
West Africans Hunt Pangolins Primarily For Food, Study Shows

Nigeria, WJC Seal Pact To Tackle Wildlife Trafficking

September 17, 2025
India: Study Reveals More Women Are Diagnosed With Cancer, Men Die More

India: Study Reveals More Women Are Diagnosed With Cancer, Men Die More

September 16, 2025
Chad: New Constitution Allows President To Contest Unlimited Times

Chad: New Constitution Allows President To Contest Unlimited Times

September 16, 2025
JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia
ADVERTISEMENT

Most Recent

Malawi: Vote Counting Commences After Presidential Election

September 17, 2025

Nigeria, WJC Seal Pact To Tackle Wildlife Trafficking

September 17, 2025

India: Study Reveals More Women Are Diagnosed With Cancer, Men Die More

September 16, 2025

Chad: New Constitution Allows President To Contest Unlimited Times

September 16, 2025

Somalia: TikTok Users Arrested Over Dance Video “Insulting” President Mohamud

September 16, 2025

China Sails Into UN’s Top 10 Most Innovative Nations, Replacing Germany

September 16, 2025

Japa: Nigerian Governor Declares 2 Doctors Wanted For Absconding After State-Sponsored Training

September 16, 2025

Ghana To Host Goodluck Jonathan Foundation’s Democracy Dialogue

September 16, 2025

About

Heritage Times HT stands as a beacon of pan-African journalism, dedicated to amplyfing the rich tapestry of voices and narratives across the continent. With unwavering commitment, we illuminate the evocative essence of Africa, offering a fresh perspective that captivates our global audience.

Featured

One Year of Transformative Stewardship: Walson-Jack’s Innovative Impact on Nigeria’s Civil Service

Africa’s Largest Tech Event, MWC25 Kigali, Returns With Focus On Innovation, Policy

Nadine Djuiko: Meet The Cameroonian Woman Behind Maryland’s Million-Dollar Braiding Empire

Connect

Connect with us on social media and receive timely updates on the go.

Get Updates

  • About
  • HT Management
  • Privacy Policy

© 2025 Heritage Times (HT) Media.

No Result
View All Result
  • Welcome
  • Politics
  • Economy
  • Security
  • Exposé
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Columns
    • Opinion
  • World
  • __________________
  • Make a Donation
  • Photo Speaks
  • Videos
  • You-Report
  • Whistleblower
  • Advertise
  • HT Events
  • HT Management
  • About HT
  • Contact us

© 2025 Heritage Times (HT) Media.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In