World Bank Raises Nigeria’s 2026 Growth Forecast to 4.3%

The World Bank has raised its forecast for Nigeria’s economic growth in 2026 to 4.3 per cent, up from an estimated 4 per cent growth in 2025.

The bank said the improved outlook reflects greater macroeconomic stability, stronger investor confidence and a gradual recovery in private investment.

It also projected Nigeria’s economy to grow by 4.4 per cent annually in 2027 and 2028.

Despite the improved growth outlook, the World Bank warned that stronger Gross Domestic Product growth alone would not be enough to significantly improve living standards across the country.

The bank estimated that about 3.5 million people enter Nigeria’s labour force every year, highlighting the scale of the challenge facing the country in creating productive employment.

According to the World Bank, Nigeria needs stronger private-sector investment and improvements in key areas including electricity, transport, access to finance, digital infrastructure and skills development to generate more productive jobs.

The bank also cautioned that increased government spending ahead of the 2027 elections could weaken the momentum of recent economic reforms.

The outlook highlights the need for Nigeria to sustain macroeconomic reforms while creating the conditions for stronger private-sector activity and employment growth.