World Bank forecasts 4.4% economic growth for Nigeria in 2026 and 2027

The World Bank projects Nigeria's economy will grow by 4.4% in both 2026 and 2027, marking the fastest expansion in over a decade. This represents an upgrade from the previous 3.7% forecast for 2026, reflecting sustained optimism about the country's medium-term outlook despite lingering structural challenges.

According to the Bank's Global Economic Prospects report released January 2026, growth will be driven by expansion in the services sector, rebounding agricultural production, and modest acceleration in non-oil industrial activities. The Bank noted that ongoing economic reforms—particularly within the tax system—combined with prudent monetary policy, should support economic activity and strengthen macroeconomic stability.

Higher oil output is expected to offset lower international oil prices this year, helping boost fiscal revenues and strengthen external balance. The sustained emphasis on non-oil growth highlights Nigeria's diversification efforts, which could create jobs, stabilize prices, and broaden the government's revenue base.

This forecast follows the National Bureau of Statistics report showing GDP grew 3.46% year-on-year in Q3 2025. For investors and policymakers, the World Bank's projection signals confidence that recent reforms may yield tangible results.

Is this growth forecast enough to address Nigeria's unemployment and inflation challenges, or will structural issues continue to limit how ordinary Nigerians benefit from economic expansion?

SOURCE: https://www.channelstv.com/2026/01/14/world-bank-projects-nigerias-2026-2027-economic-growth-at-4-4/