The Central Bank of Nigeria (CBN) has projected a positive economic outlook for 2026, forecasting 4.49% GDP growth and a moderation of inflation to 12.94%, driven by stable forex markets, rising oil output, and broad financial sector reforms.

CBN Governor Olayemi Cardoso highlighted that the economy’s transition from crisis management to sustainable recovery is anchored on disciplined monetary policy, stronger non-oil growth, and improved domestic production. The apex bank expects foreign reserves to reach $51.04 billion while lending costs are set to decline, supporting private-sector growth.

Cardoso noted that inflation has steadily moderated from 34.6% in 2024 to 14.5% in 2025, restoring household and business purchasing power. The bank’s 2026 strategy focuses on price stability, structural reforms, and enhanced non-oil export earnings, positioning Nigeria for a resilient and inclusive recovery.

Supporting the optimism, the World Bank projects Nigeria will sustain three years of consecutive growth, with 3.7% in 2026, despite global trade challenges and slowing emerging-market growth. Strong oil production, telecommunications, financial services, and improved agricultural output underpin the growth forecast.

The CBN emphasized that sustained reforms, fiscal discipline, and investments in human capital will be crucial for translating macroeconomic stability into tangible socio-economic benefits, including job creation, rising incomes, and broader social welfare.