The World Bank has projected that Nigeria’s economy will expand by 4.4 per cent in 2026 and 2027, marking the country’s fastest growth rate in more than ten years.
The forecast, contained in the Bank’s January 2026 Global Economic Prospects report, represents an upgrade from its earlier 2026 estimate of 3.7 per cent. The institution attributed the improved outlook to sustained growth in the services sector, a rebound in agriculture, and gradual expansion in non-oil industries.
According to the World Bank, ongoing economic reforms, improved macroeconomic stability, and prudent monetary policy are expected to support growth, boost investor confidence, and help curb inflation. Higher oil output is also projected to offset lower global oil prices, strengthening government revenue and external balances.
The report adds that Nigeria’s recovery aligns with broader growth prospects across Sub-Saharan Africa, while global economic growth is expected to remain moderate over the next two years.