Nigeria’s economy may be showing signs of recovery. However, ordinary citizens are yet to feel the impact, the Director-General of the West African Institute for Financial and Economic Management (WAIFEM), Dr Baba Musa, has said.
Speaking at the just-concluded IMF/World Bank Annual Meetings in Washington, DC, Musa described 2025 as a “critical turning point” for Nigeria. This year could either strengthen the economy or expose its profound weaknesses. While the International Monetary Fund (IMF) projects 3.9% growth in 2025, Musa warned that such numbers would mean little unless they translate into decent jobs, better incomes, and tangible improvements in people’s lives.
He noted that inflation is easing slightly, with headline inflation falling to 18% in September, but millions of Nigerians still struggle with rising costs, unemployment, and poor infrastructure. “Growth must have a human face,” Musa said. “We must ensure it reflects in household welfare, not just in statistics.”
He urged the government to stay consistent with reforms, invest in education and technology, and prioritise inclusive policies. “If Nigeria deepens its reforms and empowers its people, this recovery can be more than a rebound—it can be a transformation,” he said.
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