• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, June 3, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Nigeria’s Purchasing Power Parity To Hit $1.85trn By 2029 – IMF

by Leadership News
12 months ago
in Business
IMF
Share on WhatsAppShare on FacebookShare on XTelegram

Nigeria’s economy is expected to rise to at least $1.852 trillion in Purchasing Power Parity terms by 2029, data from the International Monetary Fund has shown.
The Washington-based Fund’s prediction suggests a significant growth trajectory for the country’s economy over the next five years.

Advertisement

Nigeria’s Gross Domestic Product in PPP terms has been on the increase, projected to rise from $1.36 trillion in 2023 to $1.852 trillion in 2029.

The data shows a consistent growth trend, with a notable increase of 5.5 per cent expected in 2029.
IMF also forecast Nigeria’s share of global GDP based on PPP to reach 0.78 per cent by 2029, indicating a slight increase from 0.77 per cent in 2023.

The steady growth in Nigeria’s PPP brings a glimmer of hope that the country’s economic trajectory is on the path of growth.

Nigeria, the fourth largest economy in Africa, has faced significant challenges in recent years, including a recession in 2020 caused by the COVID-19 pandemic and a decline in oil prices.
However, the data suggests that Nigeria’s economy is gradually expanding, though slowly, and is expected to continue this trend over the next five years.

RELATED

Empowering First-Time Homebuyers Through Policy And Education

Empowering First-Time Homebuyers Through Policy And Education

8 hours ago
Chinedumuije Urges Tinubu To Stop Foreign Loans For Infrastructural Projects

Tech Expert Urges Business Owners To Use Data For Experiential Engagement

12 hours ago

The country’s share of global GDP has remained relatively stable, fluctuating between 0.775 per cent and 0.778 per cent from 2024 to 2028.
GDP is the most commonly used single measure of a country’s overall economic activity.

PPP is a theory in economics that suggests that in the long run, exchange rates between two currencies should adjust to equalise the prices of a basket of goods and services in each country.

In other words, it implies that a unit of currency should have the same purchasing power across different countries.

The trend of Nigeria’s GDP in PPP terms over the past few years indicates a steady recovery and growth.

In 2024, the country’s GDP in PPP terms stood at $1.44 trillion, increasing to $1.51 trillion in 2025, and $1.587 trillion in 2026. The growth continued in 2027, with a GDP (PPP) of $1.67 trillion, and $1.759 trillion in 2028.

With this trend, Nigeria could regain its position as Africa’s largest economy, overtaking South Africa.

Bismarck Rewane, the chief executive officer of Financial Derivatives Company has projected that Nigeria could regain its top place as Africa’s biggest economy by 2028 if it follows its reforms rightly.

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

Breaking NEWS: Nigerians can now earn in US Dollars, acquire ultra premium domains for low and sell for super profit. Our client acquired a domain for $3715 and got it sold for $42,000. Click here to see how you too can profit from the business.


Tags: International Monetary Fund (IMF
SendShareTweetShare
Previous Post

FG Unveils Policy For Enhanced Food Safety, Quality Standards

Next Post

Tetra Pak Cuts Greenhouse Emission By 47% In 4 Years

Leadership News

Leadership News

You May Like

Empowering First-Time Homebuyers Through Policy And Education
Business

Empowering First-Time Homebuyers Through Policy And Education

2025/06/02
Chinedumuije Urges Tinubu To Stop Foreign Loans For Infrastructural Projects
Business

Tech Expert Urges Business Owners To Use Data For Experiential Engagement

2025/06/02
Forum Salutes Tinubu, Umahi Over Infrastructural Development In North
Business

Amid 2,669 Road Construction Projects, Engineers Blame Kickbacks For Failures

2025/06/02
Large-cap Stock Drives Local Bourse To N180bn Gains
Business

Stock Investors Gain N3.967trn In May Amidst Positive Returns

2025/06/02
NCAT Rector Raises The Alarm Over Shortage Of Funds For Capital Projects
Business

‘Foreign Students’ Surge At NCAT Boosts Federal Gov’t’s Forex Earnings’

2025/06/02
IWD: Female Employees Share Career Journey At Schneider Electric
Business

‘AI Key To Optimising Infrastructure Surge For Nigeria Data Centres’

2025/06/02
Leadership Conference advertisement

LATEST

You Are Desperate For Self-serving Power, APC Chides Atiku, Amaechi, El-Rufai

Griezmann Signs Deal To Extend Stay At Atletico Madrid

My Support For Tinubu Not For Personal Gain – Kalu

Tinubu Celebrates NNPC Group CEO Ojulari At 60

Police Nab 6 Suspected Notorious Gang Members, Recover Arms In Lagos

Late Exams: Reps Gives WAEC 24 Hours To Submit Guidelines, Report

EFCC Re-arraigns Alleged Cybercrime, Terrorism Kingpin

Empowering First-Time Homebuyers Through Policy And Education

Eid-el-Kabir: Yobe Gov’t Shuts Schools For 10 Days

FRSC Begins Probe Of Kano Athletes’ Accident

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.