The World Bank has revised upward its forecast for Nigeria’s economic performance, projecting that the country’s economy will expand by about 4.4 percent in 2026, with growth expected to remain on a similar trajectory into 2027.
The improved outlook reflects cautious optimism around Nigeria’s ongoing economic reforms, including measures aimed at stabilizing the foreign exchange market, improving fiscal discipline, and boosting productivity across key sectors. According to the World Bank, these reforms are beginning to restore confidence among investors and support broader economic activity.
Nigeria’s services sector, alongside gradual improvements in oil production and non-oil exports, is expected to remain a major driver of growth. The Bank also points to agriculture and digital services as areas with increasing contribution to output, although structural challenges persist.
Despite the upgraded forecast, the World Bank warns that risks remain. High inflation, infrastructure deficits, and global economic uncertainties could weigh on growth if not carefully managed. The institution stresses that sustaining momentum will require consistent policy implementation and deeper structural reforms.
Africa’s largest economy has faced several years of subdued growth amid currency pressures and rising living costs. The revised projection signals renewed confidence in Nigeria’s medium-term prospects, though analysts emphasize that growth is expected to be steady rather than rapid.
The World Bank’s forecast broadly aligns with estimates from other international financial institutions, reinforcing expectations of gradual recovery rather than dramatic economic expansion.
