NESG Predicts N1,300/$ Naira to Dollar Exchange Rate in 2025

The Nigerian Economic Summit Group (NESG) has forecasted a massive naira appreciation to an average exchange rate of N1,300 to the US dollar in 2025. The optimistic projection was stated in its 2025 economic outlook, released on Thursday, January 2025.
According to NESG, the exchange rate forecast is based on increased foreign exchange earnings driven by higher crude oil sales, revitalised manufacturing output from the oil refining sub-sector, and improved agricultural productivity.
The private think-tank group projected Nigeria’s real GDP growth to reach 5.5% in 2025, contingent on implementing comprehensive stabilisation reforms. According to NESG, this marks a significant shift from 2024, where only four out of 20 key sectors achieved growth rates exceeding 5%, BusinessDay reports.

Additionally, inflation is expected to decline substantially to 24.7% in 2025, reflecting improved macroeconomic stability. NESG said its projection is possible if there is effective coordination between fiscal and monetary policies, enhanced forex market stability, and increased agricultural output. Also, improved security in farming regions and better access to farmlands are anticipated to boost food production, reduce scarcity and ease price pressures.
NESG stated: “Increased food production will alleviate scarcity and help stabilise food prices, which remain a key driver of inflation in Nigeria.”

source: legit.ng

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