The World Bank said it expects Nigeria’s economy to grow at 4.4% in both 2026 and 2027, marking what it described as the country’s fastest growth pace in over a decade.
According to the Bank’s Global Economic Prospects report released in January 2026, while it retained Nigeria’s 2027 economic growth forecast at 4.4%, it also upgraded Nigeria’s 2026 growth estimate to 4.4%, up from the 3.7% forecast contained in its June 2025 Global Economic Prospects report.
The development shows sustained optimism about the country’s medium-term outlook, while also reflecting improving macroeconomics despite lingering structural challenges.
This is as the country’s Gross Domestic Product (GDP) grew by 3.46% year-on-year in real terms during the third quarter of 2025, according to the latest report from the National Bureau of Statistics (NBS).
According to the WB report, the expansion will be driven primarily by sustained growth in the services sector, a rebound in agricultural production, and a modest acceleration in non-oil industrial activities.
“Growth in Nigeria is forecast to strengthen to 4.4 per cent in both 2026 and 2027—the fastest pace in over a decade,” the bank noted.
The Bank added that continued expansion in services and improved agricultural output would remain the key pillars supporting economic performance over the forecast period.
The World Bank noted that ongoing economic reforms—particularly within the tax system—combined with prudent monetary policy, are expected to support economic activity and strengthen macroeconomic stability.
“Economic reforms, including in the tax system, along with continued prudent monetary policy, are expected to continue supporting activity.”