Nigeria: PwC forecasts 4.3% real GDP growth for Nigeria in 2026

PwC Nigeria has projected that Nigeria’s economy will expand by 4.3 per cent in real terms in 2026, according to its newly released Economic Outlook.

The firm said the growth forecast is anchored on expectations of gradually moderating inflation and a broadly stable naira, even as fiscal pressures remain and continue to underscore the need for capital efficiency and strong balance-sheet discipline.

PwC’s outlook assesses how recent improvements in macroeconomic stability are reshaping the business and investment landscape as Nigeria heads into 2026, with implications for corporate strategy, market confidence and capital allocation.

The Economic Outlook 2026 highlights seven major factors expected to shape economic performance over the year. These span both global and domestic influences, including the effectiveness of monetary policy, fiscal sustainability and reform execution, global economic and geopolitical developments, domestic security and social pressures, uneven sectoral growth, constraints on consumer affordability, and the expanding influence of the digital economy and artificial intelligence.

Commenting on the report, PwC Nigeria’s Country Senior Partner, Sam Abu, said the outlook offers forward-looking insights into key macroeconomic indicators and what they mean for business leaders.

“Nigeria has recorded improved macroeconomic stability over the past year. The key question now is how this stability translates into sustainable economic growth, and how businesses position themselves for 2026,” Abu said. “For companies, a more stable environment supports clearer planning, investment and growth decisions.”

Providing further context, PwC Nigeria’s Partner and Chief Economist, Olusegun Zaccheaus, noted that the seven themes outlined in the report illustrate how both global and local dynamics will influence Nigeria’s economic trajectory in 2026.

“Global growth is projected at about 3.1 per cent, while merchandise trade growth is expected to slow to around 0.5 per cent,” he said, adding that oil prices, capital flows and access to foreign inflows will remain critical channels shaping Nigeria’s growth prospects and foreign exchange liquidity.