The Digest:
The World Bank has upgraded Nigeria’s growth forecast to 4.4% for 2026 and 2027, the fastest expansion in more than a decade, signaling a cautious optimism as reforms and sectoral recovery begin to steady an economy long navigating turbulent waters.
Key Points:
- World Bank upgrades Nigeria’s 2026–2027 growth forecast to 4.4%.
- This would mark the country’s fastest economic growth in over ten years.
- Growth is driven by services, agriculture recovery, and refined petroleum exports.
- Reforms in tax and monetary policy are expected to bolster investor sentiment.
- Higher oil output may offset lower global prices, boosting fiscal revenues.
- The bank cautions that sustained growth requires tackling structural bottlenecks.
- Weak institutional enforcement of fiscal rules remains a historical challenge.
Source: Vanguard
