Economy: Nigeria to Record Fastest Growth in 2026 — World Bank
The World Bank says Nigeria is on course to record its fastest economic growth in more than a decade, following an upgrade of the country’s growth outlook for 2026 and 2027.
In its latest economic assessment, the World Bank revised Nigeria’s growth forecast upward to 4.4 per cent for both years, citing improvements in macroeconomic management, ongoing structural reforms, and stronger performance in key non-oil sectors of the economy.
According to the Bank, recent policy adjustments — including reforms in foreign exchange management, subsidy rationalisation, and revenue mobilisation — are beginning to stabilise the economy and restore investor confidence. These measures, combined with improved agricultural output, expansion in services, and gradual recovery in industrial activity, are expected to support sustained growth momentum.
The report also notes that while the oil sector remains important, non-oil activities such as agriculture, telecommunications, trade, and financial services are projected to be the main drivers of growth in the medium term. Increased public and private investment in infrastructure is expected to further boost productivity and job creation.
However, the World Bank cautioned that risks remain, including inflationary pressures, global economic uncertainties, and security challenges. It stressed the need for continued reforms, stronger institutions, and targeted social protection measures to ensure that economic growth translates into broad-based prosperity and poverty reduction.
If realised, the projected 4.4 per cent growth rate would mark Nigeria’s strongest economic performance since the early 2010s, positioning Africa’s largest economy for a more stable and inclusive recovery.
