Nigeria and other West African countries economy is projected to remain stable at 4.7 per cent in 2026.
This is according to the 2026 African Economic Outlook released by the African Development Bank (AfDB) on Tuesday at the ongoing Annual Meetings of the bank. .
The AfDB in the report released in Brazzaville, said the subregion recorded estimated growth of 4.8 per cent in 2025.
It projected that growth would slow slightly to 4.5 per cent in 2027.
According to the report, the region’s stable growth outlook is driven by strong agricultural production and expanding agro-processing value chains.
The report also identified sustained public investments in energy, logistics and transportation infrastructure as major growth drivers.
It added that increased mining and hydrocarbon production would further support economic expansion across the subregion.
Improved private sector investment, particularly in construction, was also highlighted as a key contributor to growth.
The report, however, warned that rising global oil and gas prices were increasing inflationary pressures across Africa.
It projected Africa’s average inflation rate at 10.4 per cent in 2026 before declining to 8.9 per cent in 2027.
According to the report, inflation had dropped from 13.7 per cent in 2025 due to increased agricultural output and tighter monetary policies.
The report stated that African central banks reduced interest rates in 2025 to support economic recovery and improve inflation outlooks.
It also stated that many African currencies depreciated against the U.S. dollar as of April.
The report warned that high oil prices could widen fiscal deficits in oil-importing African countries through rising import costs
