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World Bank Raises Nigeria’s Growth Forecast to 3.8% as Inflation Eases

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World Bank


CBN’s Rate Cut, Stable Prices Strengthen Economic Outlook Across Africa

The World Bank has raised Nigeria’s 2025 economic growth forecast to 3.8%, citing easing inflation, stabilising exchange rates, and supportive policy measures by the Central Bank of Nigeria (CBN).

In its latest Africa Pulse report released on Monday, the global lender said sub-Saharan Africa’s overall growth will improve as inflation pressures ease and central banks begin relaxing monetary policies.

The development follows the CBN’s decision last month to cut its benchmark interest rate from 27.5% to 27%, a move aimed at stimulating borrowing and investment.

According to the World Bank, Nigeria, Ethiopia, and Ivory Coast are among the countries expected to record stronger economic expansion this year, with real incomes projected to rise over the next two years.

“While this marks a gradual recovery from a decade of successive shocks, the rebound has yet to gain strong momentum,” the report stated.

The bank noted that regional growth is expected to average 4.4% annually over the next two years — a slight improvement from the previous forecast of 4.3% released in April.

Andrew Dabalen, the World Bank’s Chief Economist for Africa, said the continent’s inflation levels have dropped significantly, giving policymakers room to lower interest rates.

“The median inflation is less than 4%. Moreover, most of the currencies that were cratering relative to the U.S. dollar have now recovered and are stable,” Dabalen said.

However, the report warned that high debt levels, trade uncertainty, and slow job creation could hinder long-term growth. Dabalen particularly cited the uncertainty surrounding the renewal of the Africa Growth and Opportunity Act (AGOA) — a key U.S.-Africa trade agreement — as a major concern.

“Trade challenges remain very high. We don’t know how this is going to be resolved because there are lots of negotiations going on,” he added.

The World Bank urged African governments to prioritise job creation through policies that support small and medium-sized enterprises (SMEs) and improve the business climate.

“These jobs have to be jobs that provide a living wage and secure lives,” Dabalen said, pointing out that about three-quarters of jobs in the region remain in the informal sector.

He warned that unemployment and social unrest remain significant threats to the region’s stability.

“The consequences of not solving these problems are hard to contemplate. They will be very disruptive, and I think we’re beginning to see the signs of it,” Dabalen said, referencing youth-led protests in Nigeria, Kenya, and Madagascar.

With inflation easing and currencies stabilising, analysts believe Nigeria’s latest growth outlook signals cautious optimism for Africa’s largest economy — though sustained reforms and private-sector investment remain key to long-term recovery.



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NEWS

“We Are Raising Fraudsters” — Obi Reacts to EFCC’s Explosive Student Cybercrime Report

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Former presidential candidate of the Labour Party, Peter Obi, has reacted strongly to a recent report by the Economic and Financial Crimes Commission (EFCC) alleging that a significant number of Nigerian university students are involved in internet fraud.

The EFCC had reportedly warned that cybercrime is becoming increasingly common among undergraduates, a development it described as a growing national concern requiring urgent attention from authorities, parents, and educational institutions.

SEE ALSO: Political Earthquake Brewing? Peter Obi, Bala Mohammed in Closed-Door Talks

Reacting to the claim, Obi described the situation as deeply troubling, warning that Nigeria may be “raising a generation of fraudsters” if the trend is not urgently addressed.

According to him, if even a large fraction of the allegation is true, it signals not just a crime problem but a broader collapse of values and moral discipline in the country.

He stressed that young people do not operate in isolation, arguing that society, leadership, and institutions all play a role in shaping behaviour. Obi noted that when dishonesty appears to thrive without consequences, it sends the wrong message to the youth.

The former Anambra State governor also called for urgent reforms in governance, education, and value reorientation, insisting that integrity must be restored at all levels of society.

He added that the focus should not only be on condemning young people but on addressing the systems that influence their choices and actions.

Obi further urged leaders to set better examples, warning that a society cannot expect honesty from its youth if accountability is weak at the top.

The EFCC has continued to express concern over rising cybercrime cases in tertiary institutions, describing the trend as a threat to national development and security.

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NEWS

Police Rescue Five Abducted Students in Ogun After Gun Battle

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Man Arrested For Burglary In Ogun Churches

Operatives of the Nigeria Police Force have successfully rescued five students of Gateway Polytechnic, Saapade, following their abduction by gunmen in Ogun State.

The students were reportedly kidnapped late Monday night in the Sapade area of Remo North Local Government Area, triggering a swift response from security operatives after a distress call was received around 10:55 p.m. at the Ipara Police Division.

Upon arrival at the scene, officers discovered an ash-coloured Toyota vehicle riddled with bullet holes and stained with blood. Several mobile phones and personal belongings were also recovered from the abandoned car.

SEE MORE: Horror in Kogi: Gunmen Abduct 24 Pupils in Orphanage Raid, 15 Rescued

Confirming the incident, the Police Public Relations Officer in the state, Oluseyi Babaseyi, said an identity card found at the scene linked the victims to Gateway Polytechnic, prompting an immediate escalation and a full-scale rescue operation.

The Commissioner of Police, Bode Ojajuni, subsequently ordered the deployment of tactical units in what he described as an intelligence-driven mission to secure the students’ release.

Security teams drawn from the Isara Area Command, Ipara Division, SWAT, Anti-Kidnapping Unit, Violent Crime Response Unit, Quick Response Squad, and Operation MESA were mobilised for coordinated bush-combing and tracking operations across suspected escape routes.

The sustained pressure paid off on April 28, when the students were rescued unhurt from their captors.

According to the police, the kidnappers engaged operatives in a gun duel during the rescue effort but were overpowered by superior firepower, forcing them to flee with suspected gunshot wounds. No casualties were recorded among security personnel.

“The victims were immediately evacuated, debriefed, and taken for medical attention due to the conditions they endured while in captivity,” Babaseyi added.

Commending the operatives, Ojajuni praised their gallantry and professionalism, noting that their swift coordination was instrumental to the success of the mission.

He assured residents that efforts are ongoing to apprehend the fleeing suspects, with intensified bush-combing operations already underway.

The police also urged members of the public to remain vigilant and report suspicious movements, emphasizing that community cooperation remains critical in the fight against crime.

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International News

Fresh Violence Rocks Mali as France Orders Citizens to Evacuate

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The government of France has issued an urgent directive to its citizens in Mali, advising them to leave the country immediately following a fresh wave of violent attacks.

In a travel advisory released on Wednesday, the French foreign ministry described the security situation in Mali as “extremely volatile,” citing recent assaults carried out by jihadist groups and Tuareg separatist fighters over the weekend.

ALSO READ: Mali’s Junta Leader Assimi Goita Grants Himself Unlimited Presidential Mandate

According to the statement, all travel to Mali remains strongly discouraged regardless of purpose, as authorities warned that the risk to foreign nationals has significantly increased.

“French nationals are advised to make arrangements to leave Mali temporarily as soon as possible on the commercial flights that are still available,” the ministry said.

The advisory comes amid renewed concerns over instability in the Sahel region, where armed groups have continued to intensify their operations despite years of military interventions.

President Emmanuel Macron has repeatedly expressed concern over the deteriorating security climate in Mali, particularly following the withdrawal of foreign forces and the growing influence of insurgent factions.

Mali has been grappling with insecurity since 2012, as jihadist insurgency, separatist tensions, and political unrest continue to undermine stability in the country.

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