Turning the Corner: A New Compact between Nigeria's People and State
THESE REFORMS, IF SUSTAINED AND FULLY IMPLEMENTED, HELP
NIGERIA TO AVOID A FISCAL CLIFF
Real GDP growth
Percent
Percent
25
5
3.6
3.7
4
3.3
3.3
2.9
22
3
2.2
2
2.9
2.9
3.0
19
Inflation
24.5
21.7
23.0
18.8
21.5
21.0
17.0
19.6
1
16
0
13.2
13
11.4
-1
-1.8
-2
10
2019
2020
2021
2022
2023
2024
2025
2019
2020
2021
2022
2023
2024
2025
-Initial reform
---No reforms
Initial reform
-No reforms
Percent of GDP
7
6
5
5.1
4.6
4
6.6
Fiscal Deficit
Public Debt Service
Percent of revenue
225
6.4
6.1
6.0
172
176
182
175
125
102
5.1
5.0
80.0 0 8
80.0
75
60.0
66
61
51
4.1
3.7
25
2023
2024
2025
2019
2020
2021
2022
2023
2024
2025
Initial reform
--No reforms
3
2019
2020
2021
2022
Initial reform
NIGERIA
THE WORLD BANK
IBRD ⚫IDA | WORLD BANK GROUP
---No reforms
Sources: NBS, OAGF, DMO, CBN, and WB
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