The World Bank has downgraded Nigeria’s economic growth projection to an average of 4.1 percent in 2026, down from an October 2025 forecast of 4.4 percent. The 2027 projection was also downgraded to 4.2 percent.
The bank said the services sector, particularly ICT, finance, and real estate, will remain the primary engine of growth. Inflation is projected to decline from 23 percent in 2025 to 14.9 percent in 2026. However, rising oil prices and policy uncertainty ahead of the 2027 elections pose risks.
Key Points:
Poverty remains elevated but is expected to decline gradually as inflation eases.
Higher fuel prices linked to the Middle East conflict are slowing poverty reduction.
Sub-Saharan Africa’s 2026 growth forecast was downgraded by 0.3 percentage points.
About 60% of countries in the region saw downward revisions.
Private consumption and investment will drive growth.
Sources: TheCable
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