The World Bank has maintained Nigeria’s economic growth projection at 4.4% for 2027, reflecting continued confidence in the country’s medium-term prospects despite ongoing structural hurdles.
This information comes from the World Bank’s Global Economic Prospects report released in January 2026, which is consistent with the forecast previously published in the Nigeria Development Update (NDU) in October 2025.
Additionally, the Bretton Woods Institution revised Nigeria’s 2026 growth estimate upward to 4.4%, from the 3.7% predicted in its June 2025 Global Economic Prospects report, signaling improvements in macroeconomic conditions.
What the World Bank is Saying
The World Bank forecasts Nigeria’s economy will expand at 4.4% in both 2026 and 2027, describing this as the fastest growth rate the country has experienced in over a decade.
The report highlights that this growth will be fueled mainly by sustained expansion in the services sector, a recovery in agricultural production, and a moderate increase in non-oil industrial activities.
“Growth in Nigeria is projected to reach 4.4% in both 2026 and 2027—the quickest pace in more than ten years,” the World Bank stated.
The Bank emphasized that continued growth in services and stronger agricultural output will remain the key drivers of economic performance during this period.
It also noted that ongoing economic reforms, particularly within the tax system, together with prudent monetary policy, are expected to sustain economic activity and bolster macroeconomic stability.
“Reforms in areas like taxation, combined with careful monetary policy, should continue supporting overall economic activity,” the report said.
These measures, the Bank added, are likely to improve investor confidence and help lower inflation. Increased oil production is also expected to counteract lower global oil prices, supporting fiscal revenues and strengthening the external balance.
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