World Bank Reports Nigeria's Economic Stability Progress

The World Bank's April 2026 report indicates that Nigeria has made significant progress in restoring macroeconomic stability, with GDP growth projected at 4.0% for 2025, similar to 2024. This growth is primarily driven by the services sector, including ICT and financial services.

Inflation has notably decreased to 15.1% year-on-year as of February 2026, down from 26.3% the previous year, supported by tight monetary policy. The report emphasizes the need for further inflation reduction to complement investment stability and expand job opportunities.

Nigeria's external position remains positive, with a current account surplus reaching 4.8% of GDP and gross external reserves rising to $45.5 billion. The report also notes that while non-oil revenue has improved, fiscal pressures have widened the deficit to 3.1% of GDP.

World Bank Nigeria Director Mathew Verghis and lead economist Fiseha Hail express cautious optimism for continued growth, projecting a 4.2% increase from 2026 to 2028, contingent on ongoing structural reforms and investment.