The World Bank has revised its projection for Nigeria’s current account surplus, predicting it will reach 6% of GDP by 2026. This marks an increase from the previously estimated 4.8% for the same year. The update follows a reassessment of the country’s macroeconomic stability and growth prospects.
The institution has also raised its growth forecast for Nigeria to 4.4% in 2027, up from earlier estimates. This adjustment reflects improved confidence in the nation’s economic policies and structural reforms. The current account surplus is expected to widen as oil prices stabilize and non-oil exports grow.
Nigeria has been working to reduce its reliance on oil revenues, which have historically driven the economy. Recent efforts include diversifying the economy through agriculture and manufacturing. The World Bank’s updated forecast highlights progress in these areas. The country’s fiscal discipline and inflation control have also contributed to the improved outlook.
Nigeria’s economic trajectory has been shaped by years of challenges, including oil price volatility and currency depreciation. However, recent policy reforms and international support have helped stabilize the financial sector. The World Bank’s latest projections suggest a more optimistic path ahead, though continued efforts will be needed to sustain growth.
