The World Bank says Nigeria’s economic growth remains on track in the first half of 2026 despite the ongoing Iran war and rising global energy prices.
- +World Bank says Nigeria’s 2026 economic growth intact despite Iran war
This was disclosed by the World Bank’s Lead Economist for Nigeria, Fiseha Haile, during a presentation in Abuja on Tuesday.
This was disclosed by the World Bank’s Lead Economist for Nigeria, Fiseha Haile, during a presentation in Abuja on Tuesday.
While business activity has remained stable, the Bank warned that rising fuel costs and persistent inflation could erode incomes and slow poverty reduction.
The development comes amid ongoing economic reforms by the Federal Government aimed at stabilising the economy, even as global geopolitical tensions continue to exert pressure on prices.
The World Bank noted that Nigeria’s economy has shown resilience, with business activity continuing to expand despite external shocks.
Haile emphasised that although growth remains intact, inflationary pressures—particularly from rising fuel costs—could undermine recent economic gains.
The World Bank highlighted key macroeconomic trends shaping Nigeria’s economic outlook, including inflation dynamics, fiscal performance, and external buffers.
The World Bank projects economic growth of about 4.2 per cent in 2026 and advised authorities to maintain a tight monetary policy, save windfalls from higher oil prices, and avoid broad subsidies.
In January, the World Bank retained Nigeria’s economic growth forecast at 4.4% for 2027.
The Bretton Woods Institution also upgraded Nigeria’s 2026 growth estimate to 4.4%, up from the 3.7% forecast contained in its June 2025 Global Economic Prospects report.
