BY NGOZI ONYEAKUSI

 

The World Bank has disclosed that Nigeria’s economy is set to record its fastest growth in more than a decade, upgrading its forecast for the country’s economic growth to 4.4 per cent for 2026 and 2027.

The World Bank made this disclosure in its latest Global Economic Prospects report released yesterday.

The latest growth forecast represents 0.7 and 0.6 percentage points from the 3.7 per cent and 3.8 per cent in June 2026. The World Bank said: “In Nigeria, growth edged up to 4.2 percent in 2025. The increase was driven by expansion in the services sector—especially the finance and information and communication technology sectors—a modest recovery in agriculture, and the country’s emergence as a net exporter of refined petroleum products. “Growth in Nigeria is forecast to strengthen to 4.4 percent in both 2026 and 2027—the fastest pace in over a decade.

This further firming of growth is anticipated to be underpinned by a continued expansion in services and a rebound in agricultural output, with a modest acceleration in non-oil industry.