Niger: On track for spectacular economic growth in 2024

Niger is gearing up for a year of remarkable economic growth, with an estimated 10.6% for 2024, according to the latest forecasts from the International Monetary Fund (IMF).

This projection marks a marked acceleration on the 2.4% estimate for 2023, and underlines the significant progress made by the country’s authorities in a number of key sectors.

The announcement was made at the end of a two-week mission to Niamey, during which IMF representatives closely examined Niger’s economic outlook.

The Fund identified several key factors underpinning this robust economic growth.

Firstly, the start of oil exports was highlighted as an important driver of this economic acceleration.

Niger, rich in oil resources, has progressively implemented initiatives to exploit and commercialise its deposits, opening up new economic and commercial opportunities.

In addition, the lifting of sanctions imposed after the military takeover has helped to restore political stability and boost investor confidence.

These positive developments have fostered a more favourable business climate and stimulated economic activity across the country.

Finally, a significant increase in agricultural production was also cited as a key factor in the projected economic growth.

Niger, endowed with vast arable land and considerable agricultural potential, has stepped up its efforts to promote productive and sustainable agriculture, thereby strengthening its food security and contributing to overall economic growth.

Titi KEITA