Nigeria to Rank Sixth in Global GDP Growth by 2026

According to the International Monetary Fund (IMF), Nigeria is ranked sixth among the top ten contributors to global real GDP growth for 2026, with an expected contribution of 1.5%. This ranking highlights Nigeria's role as a growth driver despite domestic economic challenges.

The IMF's projections indicate that Nigeria's contributions will surpass those of developed countries like Germany and other European nations. China and India are projected to lead with contributions of 26.6% and 17%, respectively.

The IMF also notes that the Asia-Pacific region will account for nearly 50% of global GDP growth. In addition, the Nigerian Central Bank (CBN) recently projected that Nigeria's foreign reserves will rise to $51 billion by 2026, driven by the Dangote Refinery's full capacity of 650,000 barrels per day.

This refinery is expected to significantly reduce the country's reliance on imported refined petroleum products, potentially saving $20 billion in foreign exchange and boosting reserves through exports.