By Paul Joseph
The Presidency has pointed to an improving economic outlook for Nigeria, stating that the country is projected to outpace several major global economies in growth by 2026.
Citing the latest World Economic Outlook released by the International Monetary Fund in April 2026, Nigeria’s economy is forecast to expand by 4.1% in 2026, surpassing projections for the United States (2.3%), the United Kingdom (0.8%), Germany (0.8%), and South Africa (1.0%).
The report also estimates Nigeria’s growth at 4.3% in 2027, placing it among the stronger-performing economies in Sub-Saharan Africa, where the regional average is expected to hover around 4.3% in 2026.
Reacting to the figures, Special Adviser to President Bola Ahmed Tinubu on Policy Communication, Daniel Bwala, attributed the positive projections to ongoing economic reforms under the current administration.
In a post shared on X, Bwala said Nigeria is “turning the corner,” noting that the IMF projections show the country growing faster than some of the world’s most advanced economies.
He added that while the reforms may be challenging in the short term, they are gradually yielding visible results, insisting that the administration remains committed to stabilising and strengthening the economy.
According to highlights from the IMF report, advanced economies are expected to record modest growth in 2026, with the Euro Area projected at 1.1% and Japan at 0.7%, while emerging and developing economies are set to drive global expansion.
Within Africa, Nigeria’s projected 4.1% growth rate stands above the regional average and significantly higher than South Africa’s forecast.
The Presidency expressed optimism that continued reforms in fiscal management, the energy sector, and the ease of doing business will sustain the country’s upward trajectory.
However, economic analysts caution that maintaining this growth momentum will depend on addressing persistent challenges such as inflation, insecurity, and infrastructure gaps.
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