Nigeria growing faster than US, UK – Presidency

By Emmanuel Okogba

The Federal Government has highlighted Nigeria’s improving economic outlook, noting that the country is projected to grow faster than major economies such as the United States, United Kingdom, Germany, and South Africa in 2026.

According to the latest World Economic Outlook released by the International Monetary Fund (IMF) in April 2026, Nigeria’s economy is expected to expand by 4.1% in 2026. This rate is higher than the projected growth for the United States (2.3%), the United Kingdom (0.8%), Germany (0.8%), and South Africa (1.0%).

The IMF also forecasts Nigeria’s growth at 4.3% for 2027, placing the country among the stronger performers in Sub-Saharan Africa, where the regional average is projected at 4.3% for 2026.

Reacting to the figures, the Presidency, through the Special Adviser to President Tinubu on Policy Communication, Daniel Bwala, attributed the positive outlook to the ongoing economic reforms being implemented under President Bola Ahmed Tinubu’s administration.

“Nigeria, under the visionary leadership of President Bola Ahmed Tinubu, is turning the corner,” Bwala stated on X. “Latest projections by the International Monetary Fund show our economy growing at 4.1% in 2026, faster than the US, UK, Germany, and even South Africa.”

The statement further noted that the reforms, though challenging in the short term, are “slowly but steadily showing tangible fruits.”

“President Tinubu is not joking; he is seriously fixing the economy,” he added.

Key highlights from the IMF report show that while advanced economies are expected to record modest growth — with the United States at 2.3%, the Euro Area at 1.1%, and Japan at 0.7% in 2026 — emerging and developing economies, including Nigeria, are projected to drive global growth.

Within Sub-Saharan Africa, Nigeria’s projected 4.1% growth in 2026 is above the regional average and significantly stronger than South Africa’s 1.0%.

The Presidency expressed confidence that continued implementation of reforms in areas such as fiscal management, energy sector revitalization, and ease of doing business will further strengthen Nigeria’s growth trajectory in the coming years.

Economists have noted that while the IMF projections are encouraging, sustaining this momentum will depend on addressing critical challenges such as inflation, insecurity, and infrastructure deficits.

The full IMF World Economic Outlook report also projects global growth at 3.1% for 2026, with emerging markets and developing economies expected to grow at 3.9%.

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