PwC sees Nigeria achieving 4.3% GDP expansion

PwC Nigeria has projected that Nigeria’s real Gross Domestic Product growth in 2026 would settle around 4.3 per cent.

This was disclosed in a statement shared with The PUNCH on Wednesday following the release of its 2026 Economic Outlook.

This projection broadly aligns with that of the World Bank, which, in its latest Africa’s Pulse report, anticipates that Nigeria’s economic growth will strengthen to 4.4 per cent between 2026 and 2027, driven by higher activity in ICT, finance, and real estate.

“Looking ahead, the outlook projects real GDP growth of about 4.3 per cent in 2026, with inflation moderating gradually and the naira remaining broadly stable. Fiscal constraints persist, reinforcing the importance of capital efficiency and balance-sheet discipline.

“Against this backdrop, PwC Nigeria highlights practical imperatives for business leaders in 2026: making selective investment bets in attractive sectors and regions, scenario-planning for macroeconomic and geopolitical shocks, adapting business models and cost structures for resilience, accelerating digital transformation and responsible AI adoption, and strengthening regulatory and tax compliance as reforms move from design to execution,” the statement read.

Also, PwC Nigeria’s 2026 Economic Outlook asserted that recent gains in macroeconomic stability are reshaping the operating environment for businesses, investors, and markets.

The report indicated that Nigeria recorded improvements in macroeconomic stability in 2025 following key monetary and foreign-exchange reforms, with inflation easing, exchange-rate conditions stabilising, and external reserves strengthening. PwC’s Economic Outlook 2026 highlighted how this stability is influencing strategic business choices in 2026, particularly around investment, cost and funding decisions, and regulatory, tax, and digital priorities.

Commenting on the report, the Country Senior Partner, PwC Nigeria, Sam Abu, said, “PwC Nigeria’s Economic Outlook 2026 provides forward-looking analysis of key macroeconomic indicators and what they signal for the economy and for business leaders. Nigeria has achieved improved macroeconomic stability over the past year. The focus now is on how that stability is translated into sustainable economic growth and how businesses position themselves for 2026. For companies, this stability provides a more predictable operating environment for planning, investment, and growth decisions.”

The Economic Outlook 2026 also identified seven key issues shaping Nigeria’s economic performance in the year ahead, spanning global and domestic forces. These include monetary policy effectiveness, fiscal sustainability and reform execution, global economic and geopolitical dynamics, domestic security and social pressures, uneven sectoral growth, consumer affordability constraints, and the expanding role of the digital economy and artificial intelligence.

Speaking on the outlook, Partner and Chief Economist, PwC Nigeria, Olusegun Zaccheaus said, “The seven themes in the Outlook show how global and domestic forces will shape economic performance in 2026. Globally, growth is projected at around 3.1%, while merchandise trade growth slows to about 0.5 per cent, keeping oil prices, capital flows, and access to foreign inflows as key channels influencing Nigeria’s growth and FX liquidity.