How would you rate the current state of Nigeria’s economy?

1. Economic Growth & GDP Re‐basing Nigeria’s GDP was rebased in 2024 (base year moved to 2019 from 2010), which increased the nominal size of the economy significantly; the 2024 nominal GDP is now ~₦372.82 trillion (~US$244 billion). Growth has been relatively strong: for 2024 the World Bank reports around 3.4-4.6% growth, depending on sources, helped especially by hydrocarbons and reforms. 2. Macroeconomic and Policy Reforms Removal of fuel subsidies, which had long been a heavy fiscal burden. Improved foreign exchange regime (making rates more market reflective), which is helping to attract confidence and stabilize reserves. Better revenue mobilization: tax administration and non-oil sectors contributing more. 3. Improved External Balances Nigeria posted a balance of payments surplus in 2024 (current + capital account), reversing previous deficits. Foreign reserves have increased (over US$37-40 billion in reserves) due to reforms and better trade/exchange flows. 4. Oil production & investment The oil sector is picking up. There’s increased drilling activity and some large investment decisions. Nigeria’s “Project One Million Barrels” initiative aims to ramp up crude output.