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.
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👉 JOIN GISTSMATE WHATSAPP CHANNELHowever, 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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