The World Bank has raised its forecast for Nigeria’s economic growth in 2026 to 4.3% up from 4.0% recorded in 2025, citing improving macroeconomic stability, stronger investor confidence and a gradual recovery in private investment.
The projection was contained in the World Bank’s October 2026 Africa Economic Update in which the lender expects Nigeria’s growth to strengthen further to 4.4% annually in 2027 and 2028, placing the country among a group of Sub-Saharan African economies whose growth outlook has been upgraded.
The World Bank said the improved outlook reflects the increasing impact of economic reforms and better macroeconomic management across the region.
“Economic activity in Nigeria is projected to strengthen from 4.0 percent in 2025 to 4.3 percent in 2026, before edging up to 4.4 percent annually in 2027–28, supported by improving macroeconomic stability, strengthening investor confidence, and a gradual recovery in private investment,” the World Bank stated.
World Bank Upgrades Nigeria’s Growth Outlook
Nigeria was among Zambia, Ethiopia and Angola where the World Bank revised its growth projections upward, citing improvements in economic management and the implementation of reforms.
Andrew Dabalen, the World Bank’s Chief Economist for Africa, said the broader Sub-Saharan African economy had remained resilient despite a challenging global environment. According to the lender, growth forecasts were upgraded for nearly three-quarters of the countries in Sub-Saharan Africa.
The World Bank consequently raised its forecast for the region’s economic growth in 2026 to 4.3%, from the 4.1% projected in its April outlook.
Nigeria’s GDP Growth
Data from the National Bureau of Statistics showed that Nigeria’s real Gross Domestic Product grew by 4.43% year-on-year in the second quarter of 2026, compared with 4.23% in Q2 2025.
The Q2 performance also points to continued expansion of economic activity as the country implements monetary, fiscal and structural reforms aimed at improving macroeconomic stability. The World Bank expects this momentum to continue, with growth projected to rise to 4.4% in both 2027 and 2028.
