Nigeria, Others to Lead Continent’s Growth Amid 2.8% Global Output – WESP.

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Global trade is expected to grow by 3.2 percent in 2025, driven by improved exports of manufactured goods from Asia and strong services trade. However, trade tensions, protectionist policies, and geopolitical uncertainties pose significant risks to the outlook.

Global inflation is projected to decline from four percent in 2024 to 3.4 percent this year, providing relief to households and businesses. Central banks are expected to cut interest rates further as inflationary pressures ease.

Inflation in Nigeria and other developing countries is expected to remain above historical averages, with one in five countries expected to see double-digit growth this year.

Growth in Africa is projected to rise modestly from 3.4 percent in 2024 to 3.7 percent this year, driven by recoveries in major economies including Nigeria, Egypt, and South Africa.

While the global economy has shown resilience, growth remains below the pre-pandemic average, constrained by weak investment, sluggish productivity growth, and high debt levels.

United Nations Secretary-General António Guterres warned that countries cannot ignore the perils of the current interconnected economy, where shocks on one side of the world push up prices on the other.

The report highlighted the challenges facing Africa, including conflicts, rising debt-servicing costs, lack of employment opportunities, and climate-change impacts.

It stressed that governments should prioritize investments in sustainable development, especially in critical social sectors, and warned that persistent food inflation could push millions further into poverty.

The report also highlighted the potential of critical minerals for the energy transition and accelerating progress towards the Sustainable Development Goals (SDGs) in many countries.

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