The World Bank has explained that Nigeria’s new tax laws, prudent monetary policies, and other economic reforms will push the country’s growth rate to 4.4 percent in 2026 and 2027, respectively.

The bank disclosed this in its Global Economic Prospects report released in January 2026.

It described the projected growth rate in Nigeria as the country’s fastest growth pace in over a decade.

The projection by the World Bank is an upgrade from its earlier 3.7 percent forecast stated in its June 2025 Global Economic Prospects report.

“Economic reforms, including the tax system, along with continued prudent monetary policy, are expected to continue supporting activity.

“Improve investor sentiment and reduce inflation further. Higher oil output is expected to offset lower international oil prices this year, helping to boost fiscal revenues and strengthen the external balance,” the World Bank stated.

This comes as Nigeria’s Gross Domestic Product (GDP) grew by 3.98 percent year-on-year in real terms during the third quarter of 2025, according to recent data by the National Bureau of Statistics (NBS).