Lagos – The Federal Government of Nigeria has projected a 4.68 per cent growth for the nation’s economy in 2026, emphasizing that investment-led, inclusive growth will drive job creation and improve citizens’ welfare.
Minister of Finance and Coordinating Minister for the Economy, Wale Edun, made the announcement on Thursday in Lagos while delivering the keynote address at the launch of the Nigerian Economic Summit Group (NESG) Macroeconomic Outlook Report for 2026.
He said the growth forecast aligns with Nigeria’s medium-term goal of achieving seven per cent annual growth and building a one-trillion-dollar economy by 2030.
Edun projected average inflation at 16.5 per cent and the exchange rate at about N1,400 per dollar. “It is not about the metrics or the percentages; it is about the lived experience of Nigerians in terms of electricity supply, food availability and improved welfare,” he said.
The minister noted that the 2026 budget, titled “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” reflects President Tinubu’s commitment to translating macroeconomic stability into tangible benefits for Nigerians.
He added that the budget deficit, estimated at four per cent of GDP, reflects the scale of Nigeria’s development needs and ambition to accelerate growth.
According to Edun, government priorities include consolidating macroeconomic stability, improving the business and investment climate, strengthening human capital, protecting the vulnerable through social programmes, and stimulating broad-based economic growth.
The minister highlighted ongoing investments in digital infrastructure, including the rollout of over 90,000 kilometres of fibre optic cables in collaboration with the World Bank and the Ministry of Communications, as part of efforts to empower young Nigerians and support technology-driven growth.
Edun also stressed fiscal discipline, saying that even with shortfalls in oil and gas revenue, the government ensured full disbursement of funds due to states and sub-national governments, with many states recording budget surpluses of about three per cent.
He added that all statutory obligations, including debt servicing and salary payments, were fully met.
The minister underscored the government’s focus on reducing reliance on debt and boosting revenue through digitalisation, central billing systems, and improved reconciliation processes to block leakages. A new tax law, designed to be pro-poor, is expected to broaden the tax base, simplify compliance, and exempt essential goods, food items, and small businesses.
Edun urged Nigerians, both at home and in the diaspora, to invest in the economy, stressing that the private sector is indispensable to sustaining growth.
He concluded by reiterating the government’s commitment to ensuring that economic stability translates into inclusive, job-rich growth for all citizens.
