In the UEMOA zone, economic growth recorded an increase of 6.2% in 2024. This growth is attributed to the acceleration and positive momentum of activities in key sectors, notably agriculture and extractive industries.
Niger posted the highest growth rate within the West African Economic and Monetary Union (UEMOA) in 2024, reaching 8.8%, up from 2.4% in 2023. This is according to the monetary policy report from the Central Bank of West African States (BCEAO) published on Thursday, April 17, 2025.
Details regarding the main contributors to this development were not provided, however, the UEMOA regional economic situation report indicates that Niger saw strong performances in oil production and agriculture in the fourth quarter of 2024, bringing growth to 14.4% during this period.
Additionally, industrial production doubled, reaching a record growth rate of 138.9% in the fourth quarter of 2024, due to a significant rise in crude oil production (374.2%) and increased activity in uranium and gold. "In total, mining and extractive industries recorded a boost of 403.9% in the fourth quarter of 2024 compared to the same period the previous year," the report highlights.
Furthermore, the agricultural sector, specifically food production, grew by 19%, and the country saw a 39.5% increase in business creation.
The Nigerien economy continues to show resilience, despite flooding, liquidity tensions in the banking sector, and restrictive financing conditions. Sanctions imposed by ECOWAS following the coup had disrupted the country's economic growth, which is attempting to recover through oil production. For 2025, the International Monetary Fund (IMF) forecasts robust growth of 7.9%, but notes that the deteriorating security situation could have an additional impact on economic activity.
During the review period, Senegal and Benin recorded the second-highest growth rate at 6.7%, while Mali posted the lowest growth rate at 4.9%.
Overall, UEMOA’s economic growth increased in 2024, reaching 6.2% compared to 5.3% the previous year. This increase is mainly attributed to the recovery of activities in both the primary and secondary sectors. The primary sector saw significant progress due to increased agricultural production, particularly food crops, during the 2024/2025 season. The secondary sector benefited from the dynamism of industrial and extractive activities, boosted by the launch of oil production in Senegal and its development in Niger for export.
Inflation reached 3.5% in 2024, down from 3.7% in 2023. This deceleration is due to the decline in global prices for imported food products and the stability of petroleum product prices.
