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2025 Nigeria outlook: Experts predict uncertainty amidst economic reforms

 

 

Stanley Ihedigbo

 

Alumni Association of the Department of Political Science, University of Ibadan, has released a communiqué analyzing Nigeria’s 2025 outlook.

The association convened to reflect on the country’s future, highlighting critical issues that need to be addressed.

According to the communiqué by the group Chairman and Secretary, Ajinde Oluwashakin and Bolaji Olumide Akeem, respectively, stated that Nigeria’s 2025 outlook is uncertain, with economic reforms implemented since May 2023 taking a toll on the economy.

The reforms have widened the poverty gap and eroded the purchasing power of the new minimum wage.

To address these challenges, the association recommends implementing socioeconomic measures that promote economic inclusion, reduce inequality, and improve living standards.

These measures include prioritizing fiscal discipline and prudent debt management, diversifying the economy beyond oil dependency and promoting sectors with high growth potential, enhancing critical infrastructure, such as roads, power, and transportation networks, and implementing effective social safety nets and support programs for vulnerable populations.

Also investing in human capital through improved access to quality education and healthcare services.

By implementing these recommendations, Nigeria can mitigate risks and create a brighter future for its citizens.

 

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