NIGERIA’S ECONOMY HAS STABILISED, GDP TO EXCEED 4% IN 2026 — FINANCE MINISTER

Stability and Growth

Nigeria’s economy has stabilised, Finance Minister Taiwo Oyedele announced on Thursday, August 27, 2026.

Briefing State House correspondents after the 158th meeting of the National Economic Council (NEC) in Abuja, Oyedele said the priority now is to transform economic stability into shared prosperity for Nigerians.

ValidViewNetwork gathered that the country’s real Gross Domestic Product (GDP) growth rate stood at 3.89 per cent in the first quarter of 2026, up from 3.13 per cent a year earlier.

Oyedele projected that Nigeria’s GDP growth rate would exceed four per cent in 2026, reflecting continued improvement in economic activity.

Key Economic Indicators

ValidViewNetwork further learnt that inflation has declined significantly, reaching 15.43 per cent at the end of July, compared with 24.94 per cent a year earlier.

The country’s trade surplus nearly doubled from N17.7 trillion in 2025 to N34.7 trillion by the first quarter of 2026.

Oyedele also noted that public debt remained moderate at 13.7 per cent of GDP, amounting to N159.28 trillion.

“Debt service as a percentage of revenue is on the decline, from nearly 100 per cent as of 2022 to less than 60 per cent as of 2025,” he said.

International Recognition

The economic progress has been reflected in improved assessments by international rating agencies.

ValidViewNetwork confirms that Fitch Ratings, Moody’s and S & P all upgraded Nigeria’s sovereign credit rating between April 2025 and May 2026, the first coordinated alignment in over a decade.

The country also exited the Financial Action Task Force (FATF) grey list in October 2025 and the European Union’s anti-money laundering and counter-terrorist financing deficiency list in January 2026.

According to Oyedele, these developments would reduce costs and friction associated with cross-border capital flows into Nigeria.

ADVERTISEMENT

NEC identified agriculture, energy, manufacturing, mining and the digital economy as priority sectors for accelerated development, with 81.4 per cent of Nigerians working in agriculture and non-tradable services.