The World Bank has issued a sobering reminder to Nigeria: if the country hopes to achieve its projected 3.6% economic growth in 2025, it must urgently boost the performance of its non-oil sectors. In a new report, the Bank warned that heavy reliance on oil exports leaves Nigeria vulnerable to global market fluctuations and external shocks.
Agriculture, manufacturing, and services were identified as critical engines for sustainable growth. The report stressed that without substantial reforms, investment, and innovation in these areas, Nigeria’s economy could continue to underperform, prolonging hardship for millions of citizens.
In addition to sector-specific challenges, the World Bank highlighted broader structural issues, such as poor infrastructure, unreliable power supply, and bureaucratic red tape, as obstacles to private sector growth. The message was clear: Nigeria must diversify or risk missing yet another window of economic opportunity. For policymakers, the choice is simple but urgent — build a new foundation now, or remain trapped in cycles of boom and bust.
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