Nigeria entered 2025 with a fragile but improving macroeconomic outlook that set the stage for a surprisingly active year in corporate deal-making.
After years of elevated prices and policy realignment, headline inflation moderated to about 14.45% by November 2025, significantly lower than levels earlier in the year, while business confidence continued to climb, reflecting a gradual easing of price pressures and more stability in key markets.
Growth projections for the period were cautiously optimistic. Analysts reported real GDP expansion around 3.6% to 4.5% in 2025, driven by stronger non-oil activity even as structural constraints persisted, and international institutions like the IMF lifted growth forecasts on the back of reform momentum.
Looking ahead, Nigeria’s central bank projected economic growth of 4.49% in 2026 with inflation expected to ease further to an average of 12.94%, signaling widening macro stability into the new year.
Yet the business environment still faces headwinds energy and infrastructure gaps, regulatory bottlenecks and lingering financing frictions continue to temper the ease of doing business and investor sentiment.
Despite these constraints, 2025 consolidated some of the largest corporate transactions in the country’s recent history, with billion-dollar deals across energy, power and strategic sectors that showed sustained investor interest and the resilience of Nigeria’s capital markets.