Nigeria Economic Outlook 2026: Report Projects Reform-Led Growth and Rising Investor Confidence
Nigeria’s economy is entering a phase of reform-driven stability that could strengthen growth and attract fresh investment, according to the 2026 Nigeria Macroeconomic Outlook released by EnterpriseNGR in partnership with EY. Unveiled in Lagos on Thursday, the report projects real GDP growth of about 4.4 per cent, supported by a stronger services sector, improved foreign exchange conditions, and more effective financial intermediation.
The outlook comes at a time when many emerging markets are grappling with global interest rate volatility and slowing economic activity. Economists behind the report say Nigeria’s combination of macroeconomic reforms and stabilising indicators positions the country as a potential bright spot for investors seeking higher returns in Africa, particularly as growth prospects weaken in several major economies.
Speaking at the launch, EnterpriseNGR Chief Executive Obi Ibekwe said the report is designed not just to track economic trends, but to serve as a practical guide for navigating opportunities created by Nigeria’s evolving macroeconomic landscape. He noted that reforms such as the unification of the foreign exchange market and fiscal policy recalibration have helped usher in a period of greater stability, with inflation easing to 15.15 per cent, foreign reserves hitting multi-year highs, and GDP growth gaining momentum.
Ibekwe also highlighted the role of the financial and professional services (FPS) sector as a key driver of recovery. With the Nigeria Tax Act 2025 and ongoing recapitalisation of banks and insurance companies, he said the sector is strengthening governance and balance sheets, improving its ability to mobilise capital, deepen financial inclusion, create jobs, and support Nigeria’s ambition of building a $1 trillion economy by 2030.
Beyond financial services, the report points to broader signs of economic resilience, including nearly $21 billion in foreign investment recorded in the first ten months of 2025, a sharp rise from the previous year, and upgrades to Nigeria’s sovereign credit outlook. Non-oil sectors now account for over 96 per cent of GDP, with telecoms, financial intermediation, and commercial services leading growth, while reforms in refining, mining, and taxation are improving domestic value creation. However, the report cautions that global geopolitical risks, oil price volatility, infrastructure gaps, and security challenges remain critical factors shaping Nigeria’s economic path.
source: punch