Experts predict faster economic growth, lower inflation

Nigerian economy is set to witness stronger growth this year, economists and finance experts have said.

Experts who spoke at the roundtable organised by the Chartered Institute of Bankers of Nigeria (CIBN) in collaboration with Biodun Adedipe and Associates were unanimous on the positive outlook for the economy.

They, however, cautioned that the policy outcomes would depend largely on disciplined execution and alignment of fiscal priorities. The theme of the hybrid roundtable was: 2026 National Economic Outlook: Implications for Businesses in Nigeria in 2026.

Managing Partner, Biodun Adedipe and Associates Limited, Dr Biodun Adedipe said the economy would perform better in 2026.

He said 2026 would be a stabilisation year marked by exchange rate stability, declining inflation, rising reserves and strong stock market performance.

He said that Nigerians were already feeling reform impacts, citing reduction in prices of staple foods.

Adedipe stressed the need for sustained policies to boost food production in order to further reduce inflation.

President, Nigerian Economic Society (NES), Dr Baba Musa said Nigeria’s economic fundamentals were improving, citing various macroeconomic data and reports.

He said businesses need to invest in capacity, technology and routes to markets to take advantage of the evolving macroeconomic environment.

He, however, noted the need for disciplined policy execution and alignment.

He said:  “Effective monetary, fiscal and tax reforms will determine 2026 outcomes”.

President, Chartered Institute of Bankers of Nigeria (CIBN), Prof Pius Olanrewaju, said the new tax regime, which took off on January 1 would broaden the tax base and strengthen public finances.

According to him, the new tax regime would reduce oil dependence, while protecting small businesses and low-income earners.

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He said the forum set the tone for economic policy dialogue in 2026.

Deputy Governor, Economic Policy Directorate, Central Bank of Nigeria (CBN), Dr Muhammad Abdullahi, said real GDP growth was projected at 4.49 per cent in 2026.

He added that inflation was expected to moderate to 12.94 per cent, reflecting easing pressures and reform outcomes.

Abdullahi said the outlook was supported by non-oil sector expansion, improved crude oil output, rising private investment and a more stable macroeconomic environment.

He said Nigeria recorded a balance of payments surplus of about 3.81 billion dollars in 2025, reversing deficits from the previous two years.

According to him, foreign exchange conditions would remain broadly stable due to foreign exchange (forex) reforms, higher oil receipts, diaspora remittances and stronger investor confidence.

He said inflation would continue easing due to reduction in food and energy pressures and the lagged effects of monetary tightening.

Abdullahi, who was represented by Director, Monetary Policy, Central Bank of Nigeria (CBN), Dr Victor Oboh, said the apex bank would sustain reforms to strengthen price stability and external sector resilience.

He urged banks to expand credit to productive sectors, including manufacturing, agribusiness and small and medium enterprises.