The World Bank has projected Nigeria’s economy to grow by 4.4% in both 2026 and 2027, marking the country’s fastest growth pace in over a decade. The forecast, released in the Bank’s January 2026 Global Economic Prospects report, upgraded the 2026 estimate from 3.7% to 4.4%.
According to the report, the country’s Gross Domestic Product grew by 3.46% year-on-year in real terms during the third quarter of 2025, according to the National Bureau of Statistics. The Bank said growth will be supported by a rebound in agricultural output, continued expansion in the services sector, and modest acceleration in non-oil industrial activities.
The World Bank highlighted that ongoing economic reforms, including improvements to the tax system, along with prudent monetary policy, are expected to strengthen macroeconomic stability, improve investor confidence, and reduce inflation. Higher oil output is also anticipated to support fiscal revenues and the external balance despite lower international oil prices.
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The report also noted that Nigeria’s emphasis on economic diversification and non-oil growth could help create jobs, stabilise prices, and broaden government revenue in the medium term. Across Sub-Saharan Africa, growth is expected to strengthen to 4.3% in 2026, while global growth is projected at 2.6% in 2026 and 2.7% in 2027.
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