- Wale Edun Projects 4.68% Economic Growth for Nigeria in 2026
- Projected average inflation at 16.5 per cent and an exchange rate of around N1,400 per dollar
- Identified key 2026 priorities
The Federal Government has projected Nigeria’s economy to grow by 4.68 per cent in 2026, driven by investment-led, inclusive policies designed to create jobs and improve citizens’ welfare.
Eko Hot Blog reports that Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun, announced the figures on Thursday while delivering the keynote address at the launch of the Nigerian Economic Summit Group (NESG) Macroeconomic Outlook Report for 2026 in Lagos.
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Edun explained that the projected growth aligns with the government’s medium-term goal of achieving 7 per cent annual growth and establishing a one-trillion-dollar economy by 2030.
“Economic growth is not just about metrics; it is about improving the lived experience of Nigerians, ensuring electricity supply, food availability, and enhanced welfare,” Edun said.
He projected average inflation at 16.5 per cent and an exchange rate of around N1,400 per dollar.
The minister highlighted that the 2026 budget, titled “Budget of Consolidation, Renewed Resilience and Shared Prosperity”, reflects President Bola Tinubu’s commitment to translating macroeconomic improvements into tangible benefits for Nigerians.
Edun added that the budget deficit, estimated at roughly 4 per cent of GDP, mirrors the scale of Nigeria’s development needs and the government’s ambition to accelerate growth.
He emphasised that following the removal of economic distortions and recent stabilisation measures, the focus is now on driving growth through increased investment. This includes ongoing investments in digital infrastructure, such as the rollout of over 90,000 kilometres of fibre optic cables in collaboration with the World Bank and the Ministry of Communications, aimed at empowering young Nigerians and supporting tech-driven growth.
The minister outlined four key objectives of the reform programme:
- Consolidating macroeconomic stability
- Improving the business and investment climate
- Strengthening human capital while protecting the vulnerable through social protection
- Stimulating broad-based economic growth
Edun noted that, despite shortfalls in oil and gas revenues, the government prioritised fiscal federalism, transparency, and accountability, ensuring funds due to states and sub-national governments were fully disbursed, with many states recording budget surpluses of about 3 per cent.
Highlighting fiscal discipline, Edun noted that the 2024 budget extended capital project completions, with aggregate capital expenditure reaching N11.1 trillion, representing 85 per cent performance.
He also stressed that statutory obligations, including foreign and domestic debt servicing and salaries, were fully met, demonstrating the government’s commitment to structural reform and fiscal discipline.
Edun identified key 2026 priorities: improving competitiveness through sound governance, boosting agricultural productivity and food security, accelerating infrastructure and energy development, and investing in human capital.
He underscored that reducing reliance on debt is a fiscal priority, with emphasis on boosting government revenue via digitalisation, central billing systems, and improved reconciliation processes to prevent leakages.
A new pro-poor tax law, he explained, will broaden the tax base, simplify compliance, and exempt essential goods, food items, and small businesses.
Edun concluded by urging Nigerians at home and in the diaspora to invest in the economy, stressing that private sector participation is indispensable for sustaining growth.
“We remain committed to translating economic stability into inclusive, job-rich growth, delivering tangible benefits to the average Nigerian,” he said.
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