The International Monetary Fund (IMF) has released a list of Africa’s fastest-growing economies, and Nigeria didn’t make the cut. According to the IMF, the top-performing economies in Africa are : Benin Republic, Côte d’Ivoire, Ethiopia, Rwanda, and Uganda.
Abebe Selassie IMF director, African department, made this known during the launch of African Latest Regional Economic Outlook on Thursday October 16, 2025.
These countries (Benin Republic, Côte d’Ivoire, Ethiopia, Rwanda, Uganda) are among the world’s fastest-growing economies, driven by sustained reforms, better fiscal management, and increased investment in infrastructure and manufacturing. Despite Nigeria’s exclusion, the IMF has raised its growth forecast for the country to 3.9% in 2025, citing higher oil output, improved investor confidence, and better fiscal coordination.
Nigeria’s growth remains below its potential, with the IMF urging the government to deepen structural reforms, improve electricity supply, curb inflation, and expand non-oil revenues. Nigeria’s economy is heavily reliant on oil revenue, making it vulnerable to fluctuations in global oil prices. The IMF has warned about rising financial vulnerabilities in Nigeria, with governments increasingly relying on domestic banks for borrowing, posing risks to financial stability.
IMF has recommend Nigeria to implement policies to improve electricity supply, curb inflation, and expand non-oil revenues. It has also told Nigeria to strengthen debt management and reduce dependence on domestic bank borrowing in order to grow its economy.
