Nigeria’s economy is projected to grow at its fastest pace in more than ten years, according to the World Bank, which has upgraded the country’s growth forecast to 4.4% for both 2026 and 2027.
In its latest Global Economic Prospects report, the World Bank said Nigeria’s growth rose to 4.2% in 2025, driven largely by strong expansion in the services sector, especially finance and information and communication technology (ICT), alongside a modest recovery in agriculture. The country’s emergence as a net exporter of refined petroleum products also supported the improvement.
Looking ahead, the Bank expects continued growth momentum to be underpinned by sustained services expansion, a rebound in agricultural output, and moderate growth in non-oil industries. Ongoing economic reforms, particularly in the tax system, and prudent monetary policy are projected to boost investor confidence, curb inflation, and strengthen fiscal revenues, even as higher oil output offsets weaker global oil prices.
However, the World Bank cautioned that sustaining this growth will depend on tackling long-standing structural challenges, including weak institutional frameworks that have historically undermined fiscal discipline.
Globally, the World Bank noted that the world economy remains resilient despite policy uncertainty and trade tensions, with global growth projected at 2.6% in 2026 and 2.7% in 2027.
