Nigeria: An Economy In Decline

 By Nick Dazang

On Monday, July 21, 2025, the Statistician-General of the Federation, Prince Adeyemi Adeniran, offered us a partial glimpse into the Nigerian economy. According to Prince Adeniran, our economy, following the rebase of our Gross Domestic Product, GDP,  grew by 3.13 per cent in the first quarter of 2025 from 2.27 per cent as recorded in the same period of 2024.

Furthermore, the economy, which was rebased from 2010 to 2019, grew to N372.82 trillion from N205.09 trillion. The growth in the economy is said to be attributed to wider coverage of areas which were either hitherto glossed over or were under reported. These areas include: Fin Tech, Telecommunications, Real Estate and activities in the Informal Sector of the economy.

The World Ahead 2023: Whither Nigeria?

 By Marcel Okeke

The World Ahead 2023” is the 2022 end-of-year special publication of The Economist (of London) in which the journal reviewed the global economy in the outgoing year and made detailed projections about 2023, including what issues are most likely to dictate the trends in the coming year. It says: “After two years when the (COVID-19) pandemic shaped the immediate future, it is now the Ukraine war.”

The journal gave four things to think about for 2023, namely: (1) the impact of the conflict; (2) the struggle to control inflation; (3) chaos in energy markets; and (4) China’s uncertain post-pandemic path. Going granular in its analysis, the publication gave ten themes and trends for 2023—thus: all eyes are on Ukraine; recessions loom; climate silver lining; peak China; divided America; flashpoints to watch (India-China, Turkey-Greece); shifting alliances; revenge tourism; metaverse reality check; and New year, new jargon.