World Bank retains Nigeria’s growth forecast at 4.4% for 2026–2027
The World Bank has retained its projection that Nigeria’s economy will grow by 4.4 per cent in both 2026 and 2027, reflecting sustained optimism about the country’s medium-term outlook despite lingering structural challenges. The projection is contained in the January 2026 edition of the World Bank’s Global Economic Prospects report. Daily Trust reports that this […]
World Bank
The World Bank has retained its projection that Nigeria’s economy will grow by 4.4 per cent in both 2026 and 2027, reflecting sustained optimism about the country’s medium-term outlook despite lingering structural challenges.
The projection is contained in the January 2026 edition of the World Bank’s Global Economic Prospects report.
Daily Trust reports that this aligns with the forecast earlier published in its Nigeria Development Update (NDU) in October 2025.
In a notable upgrade, the Bretton Woods institution raised Nigeria’s 2026 growth estimate from 3.7 per cent in its June 2025 Global Economic Prospects report to 4.4 per cent, citing improving macroeconomic conditions.
According to the World Bank, Nigeria’s economy is expected to record its fastest growth pace in more than ten years, driven largely by sustained expansion in the services sector, a rebound in agricultural production and modest acceleration in non-oil industrial activities.
“Growth in Nigeria is forecast to strengthen to 4.4 per cent in both 2026 and 2027 — the fastest pace in over a decade,” the report stated.
The Bank noted that continued expansion in services and improved agricultural output will remain the main pillars supporting economic performance over the forecast period.
The World Bank also highlighted the role of ongoing economic reforms, particularly in the tax system, alongside prudent monetary policy, in strengthening macroeconomic stability.
“Economic reforms, including in the tax system, along with continued prudent monetary policy, are expected to continue supporting activity,” the Bank said.
These measures, it added, are expected to improve investor sentiment and further reduce inflation.
The institution also projected that higher oil output would help offset lower international oil prices in 2026, boosting fiscal revenues and strengthening Nigeria’s external balance.