Dear Vitus
We just released our H2 2026 Nigeria Economic Outlook, which highlights how Nigeria can turn gains in macroeconomic stability into inclusive growth.
Nigeria entered the second half of 2026 with improved macroeconomic conditions. Real GDP grew by 3.89% year-on-year in the first quarter, while the naira remain broadly stable and external reserves rose. However, structural constraints continue to limit how far these gains reach households and businesses.
The report focuses on what Nigeria can do next. It identifies four actions to unlock a broader reform dividend. They include:
Scale up targeted support for consumers and reduce food, energy and transport costs to strengthen household purchasing power. Expand access to affordable, longer-term finance and address the operating constraints limiting MSME growth. Prioritise power, transport, broadband, security, education and workforce development to lower business costs and raise productivity. Build a stronger pipeline of bankable projects and remove the barriers preventing investor interest from becoming productive investment and jobs.
Looking ahead, PwC projects that Nigeria’s economy will grow by 4.2% in 2026, supported by higher crude oil production and performance in key sectors.
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