Posted by Chinenye on Wed 15th Apr, 2026 - tori.ng
The Presidency has stated that Nigeria's economic prognosis is improving, estimating that the country will develop faster than major advanced economies such as the United States, United Kingdom, Germany, and South Africa.
The Presidency has stated that Nigeria's economic prognosis is improving, estimating that the country will develop faster than major advanced economies, such as the United States, the United Kingdom, Germany, and South Africa by 2026.
The Special Adviser to President Bola Ahmed Tinubu on Policy Communication, Daniel Bwala, stated this while reacting to the latest International Monetary Fund (IMF) World Economic Outlook released in April 2026.
According to the IMF report, Nigeria’s economy is projected to grow by 4.1% in 2026, surpassing the United States (2.3%), the United Kingdom (0.8%), Germany (0.8%), and South Africa (1.0%). Growth is also forecast at 4.3% in 2027, placing Nigeria among the stronger performers in Sub-Saharan Africa, where the regional average is projected at 4.3% for 2026.
Bwala credited President Bola Ahmed Tinubu's administration's ongoing reforms for the optimistic outlook. “Nigeria, under the visionary leadership of President Bola Ahmed Tinubu, is turning the corner,” he said on X, noting that IMF projections show stronger growth than several advanced economies. He added that although reforms have been challenging, they are beginning to yield results.
He continued, "President Tinubu is not kidding; he is seriously fixing the economy."
Additionally, the IMF report predicted slower growth in developed economies, with the United States at 2.3%, the Euro Area at 1.1%, and Japan at 0.7% in 2026. Global growth is estimated at 3.1%, while emerging and developing economies are projected at 3.9%.