Nigeria's Economy to Grow 4.2% in H2 2026, Says PwC

PricewaterhouseCoopers (PwC) projects Nigeria's economy to grow by 4.2% in the second half of 2026, driven by increased crude oil production and robust performance in key sectors. The H2 2026 Nigeria Economic Outlook report indicates significant macroeconomic stabilization, including improved foreign exchange stability, moderating inflation, and increased revenue mobilization.

However, it warns that structural constraints and transitional costs of reforms limit the benefits of these gains for households and businesses. Real Gross Domestic Product (GDP) grew by 3.89% year-on-year in Q1 2026, up from 3.13% in Q1 2025, with notable growth in ICT (10.98%), Finance and Insurance (8.54%), Construction (6.38%), and Agriculture (3.15%).

Despite this growth, sectors like electricity contracted by 15.30%, and Oil and Gas grew only by 2.57%. Inflation trends showed a slight easing in headline inflation to 15.91% in June 2026, while food inflation rose to 17.52%.

The report calls for measures to enhance agricultural productivity and reduce food costs.