The World Bank has upgraded its 2026 economic growth forecast for Nigeria and other African countries to 4.3 percent from 4.1 percent.
The international lender disclosed this in its Africa
Economic Update report, released on Tuesday.
The African countries that received upgraded growth
forecasts include Nigeria, Zambia, Ethiopia and Angola.
The World Bank cited stronger economic performance across
the region, noting that years of economic reforms and improved economic
management are beginning to pay off.
It stated that the new growth forecast is up from the 4.1
percent projected in April. In 2025, the region’s economy grew by 4.1 percent.
The development shows growing confidence that reforms in
some of Africa’s biggest economies are paying off, even as the Iran war roils
global energy markets.
However, these gains have yet to make a significant dent in
poverty, with per capita income growth still trailing broader economic growth
across much of the continent.
Commenting, the World Bank’s Chief Economist for Africa,
Andrew Dabalen, said, “Economic activity in Sub-Saharan Africa continues to
demonstrate remarkable resilience, with growth forecasts upgraded for nearly
three-quarters of countries in the region.”
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