According to the latest edition of the Nigeria Development Update (NDU) released by the World Bank in Abuja, Nigeria’s economy is expected to grow by 4.3% in 2026. This growth rate is projected to rise to an average of 4.4% from 2027 to 2028.
The World Bank’s optimistic outlook for Nigeria’s economy comes as the country grapples with various economic challenges, including inflation and foreign exchange constraints. However, the bank attributed the expected growth to a recovery in oil production and increased non-oil revenues.
This positive forecast for Nigeria’s economy is a welcome development, as it comes amidst efforts by the Nigerian government to diversify the economy and reduce its dependence on oil revenues.
The World Bank’s predictions are based on a number of assumptions, including a rebound in global oil prices, increased investments in the non-oil sector, and a stable political environment. It is important to note that these assumptions may change as circumstances evolve.
According to Vanguard News, the World Bank’s latest edition of the NDU was released in Abuja on October 9, 2026.
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