Country Overview
Nigeria, one of Africa's largest economies with over 200 million people, implemented major economic reforms in 2024 to boost government revenue and attract investors. While necessary, these reforms worsened inflation, eroding consumer purchasing power and driving up business costs amid rising lending rates. In response, the Central Bank of Nigeria implemented orthodox monetary measures, devaluing the naira and sharply increasing interest rates to tame rising inflation and restore investor confidence. However, the economic measures failed to readily tackle key issues such as public trust, poor infrastructure, and insecurity. These challenges hindered economic growth and made long-term investors cautious. In 2025/26, the government is expected to continue its reform agenda, focusing on exchange rate stability, inflation control, improved revenue generation, and attracting stable capital inflows. Effective coordination between fiscal and monetary policies will be critical to achieving these goals in the medium term.
Key Developments in 2024
Private Capital Activity
Private capital activity in Nigeria
