The African Development Bank Group has projected that Nigeria’s economic growth will slow to 3.7 per cent in 2027 as easing global oil prices reduce external revenue inflows, despite a modest improvement expected in 2026.
The projection was contained in the bank’s recently published African Economic Outlook 2026 report, which noted that Nigeria’s growth would rise marginally from an estimated 4.0 per cent in 2025 to 4.1 per cent in 2026.
According to the report, the anticipated growth in 2026 will be driven by increasing oil prices and production, expansion in the services sector, and increased public investments in electricity, transport, and logistics.
The AfDB stated, “Growth in Nigeria, the region’s largest economy, is projected to increase marginally from an estimated 4.0 per cent in 2025 to 4.1 per cent in 2026, supported by increasing oil prices and production, growth in the services sector, and increased public investment in electricity, transport, and logistics. In 2027, growth is projected to decelerate to 3.7 per cent on account of the anticipated easing of global oil prices and thus reduced external revenue inflows.”
The bank warned that Africa’s medium-term outlook remains vulnerable to supply chain disruptions, inflationary pressures, exchange rate depreciation, and tightening global financial conditions.
