PwC Stabilize Economic Growth to 4.3% in 2026

PwC has projected that Nigeria’s economy will grow by about 4.3 per cent in 2026, reflecting improving macroeconomic stability driven by easing inflation, a more stable exchange-rate environment, and stronger external reserves.

According to the report, recent monetary and foreign exchange policy adjustments have reduced volatility and clarified pricing and funding signals, creating a more stable operating environment for businesses. This improved stability, PwC noted, is enabling companies to make more informed decisions around investment, cost management, capital allocation, taxation, and digital transformation.

Commenting on the outlook, the Country Senior Partner at PwC Nigeria, Sam Abu, said Nigeria has moved from a phase of macroeconomic stabilisation to one focused on converting recent gains into sustainable economic development.

“Nigeria has achieved improved macroeconomic stability over the past year. The priority now is translating that stability into sustained economic growth and ensuring businesses are well-positioned for 2026. For companies, this stability provides a more predictable environment for planning, investment, and expansion,” he said.

PwC identified seven key factors expected to shape Nigeria’s economic performance in 2026, spanning both global and domestic dynamics. These include the effectiveness of monetary policy, fiscal sustainability and reform execution, global economic and geopolitical conditions, domestic security and social pressures, uneven sectoral growth, weak consumer purchasing power, and the growing influence of digitalisation and artificial intelligence.

The Partner and Chief Economist at PwC Nigeria, Olusegun Zaccheaus, said the interaction of these factors will determine the pace and quality of growth in the year ahead. He noted that global economic conditions remain an important influence, with global growth projected at about 3.1 per cent and merchandise trade growth slowing to roughly 0.5 per cent. These trends, he said, will affect oil prices, capital flows, and Nigeria’s access to foreign exchange.