By Ridwanullah Sakariyah
The International Monetary Fund (IMF) has raised its projection for Nigeria’s economic growth to about 4.4% by 2026, citing expectations that ongoing reforms will gradually stabilise the country’s economy.
The improved outlook comes amid continued economic adjustments under the administration of Bola Tinubu, including fiscal and monetary reforms aimed at strengthening productivity and restoring macroeconomic stability.
According to the IMF, Nigeria’s economic performance in the coming years is expected to improve as reforms begin to take effect across key sectors of the economy.
For 2025, the global lender projected that the Nigerian economy would grow by about 3.4 per cent. The figure reflects a modest improvement driven mainly by stronger activity in non-oil sectors.
However, the IMF noted that the economic outlook remains fragile due to persistent inflation, fiscal pressure, and structural challenges such as energy shortages and weak infrastructure.
Despite these challenges, the institution said Nigeria’s economic prospects could improve further if reforms are sustained and investment in productive sectors continues.
Growth in the coming years is expected to be led by the services sector, especially telecommunications and financial services, as well as agriculture and other non-oil industries.
Similarly, the World Bank has projected that Nigeria’s economy could expand by around 4.4 per cent between 2026 and 2027.
The bank said the expected growth would largely depend on reforms designed to improve government finances and strengthen investor confidence.
Economic reforms such as the removal of fuel subsidies, exchange-rate unification and tighter monetary policy have been identified as key measures helping to stabilise the country’s economy.
If the projections are realised, the expected expansion could represent Nigeria’s fastest economic growth rate in more than a decade, largely driven by efforts to diversify the economy beyond oil.
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