World Bank upgrades Nigeria, other African countries’ 2026 economic growth forecast

The World Bank has revised its 2026 economic growth forecast for Nigeria and other African nations upwards to 4.3 percent, from a previous estimate of 4.1 percent. This optimistic projection was revealed in the World Bank's Africa Economic Update report, published on Tuesday. The African states that received this upgrade include Nigeria, Zambia, Ethiopia, and Angola.

The bank credited stronger economic performance across the region, highlighting that recent economic reforms and better economic management are beginning to yield results. The new growth forecast represents an improvement from the 4.1 percent predicted in April. In 2025, the region's economy expanded by 4.1 percent. This development underscores growing confidence that economic reforms in some of Africa's largest economies are paying off, despite the global energy market disruptions caused by the Iran war.

However, these gains have yet to significantly alleviate poverty, as per capita income growth continues to lag behind overall economic growth on much of the continent. Andrew Dabalen, the World Bank's Chief Economist for Africa, commented on the situation, stating, "Economic activity in Sub-Saharan Africa continues to demonstrate remarkable resilience, with growth forecasts upgraded for nearly three-quarters of countries in the region."