PWC: Nigeria’s H2 Growth to Hit 4.2% Buoyed By Stronger Oil Output
• Warns high food, energy costs may weaken reform gains •Says growth hinges on turning reforms into jobs, investment Emmanuel Addeh in Abuja Global professional services firm, PwC, has predicted
Nigeria's economic growth is projected to reach 4.2% in the second half of 2026, according to global consulting firm PwC. This growth is largely attributed to increased domestic crude oil production and gradual expansion in non-oil commercial activities. However, the firm warns that high food and energy costs may weaken reform gains and negatively impact household purchasing power.
Despite a slight dip in headline inflation to 15.91% in June 2026, essential goods and services remain prohibitively expensive, affecting vulnerable populations and squeezing commercial profit margins. PwC emphasizes that sustained disinflation and reduced food and essential costs are crucial for bolstering consumer spending and overall economic growth.
To achieve inclusive growth, the report emphasizes the need for transforming reforms into job creation, poverty alleviation, and the attraction of long-term domestic and foreign direct investment.
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