Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, has projected Nigeria’s economy to grow by 4.68 per cent in 2026, driven by investment-led policies aimed at creating jobs and improving citizens’ welfare.
Edun made the remarks 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 noted that this growth projection aligns with the government’s medium-term goal of achieving seven per cent annual growth and building a one-trillion-dollar economy by 2030.
According to the minister, average inflation is expected to settle at 16.5 per cent, while the exchange rate is projected at around N1,400 per dollar.
“The 2026 budget, titled ‘Budget of Consolidation, Renewed Resilience and Shared Prosperity,’ reflects President Bola Tinubu’s commitment to ensuring that macroeconomic improvements translate into real gains in Nigerians’ daily lives,” Edun said. “It is not about the metrics or percentages; it is about electricity supply, food availability, and improved welfare for Nigerians.”
Edun highlighted that the budget deficit, estimated at about four per cent of GDP, reflects both the scale of Nigeria’s development needs and the ambition to accelerate growth. He added that economic policy is now focused on driving growth through increased investment, particularly in technology and digital infrastructure.
“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, are aimed at empowering young Nigerians and supporting technology-driven growth,” he said.
The minister outlined four key objectives of the reform programme: consolidating macroeconomic stability, improving the business and investment climate, strengthening human capital while protecting vulnerable populations, and stimulating broad-based economic growth.
On fiscal performance, Edun noted that despite shortfalls in oil and gas revenues, the Federal Government prioritised fiscal federalism, transparency, and accountability, ensuring states and sub-national governments received their full allocations. Many states recorded budget surpluses of around three per cent, enabling increased spending on health, education, and public services.
Edun also emphasised fiscal discipline, revealing that the 2024 budget was extended to ensure completion of priority capital projects. Aggregate capital expenditure reached about N11.1 trillion, reflecting an 85 per cent implementation rate. All statutory obligations, including debt servicing and salary payments, were fully met.
Highlighting long-term priorities, the minister said the government aims to outpace population growth, reduce poverty, and diversify the economy. Key focus areas for 2026 include improving competitiveness, boosting agricultural productivity, accelerating infrastructure and energy development, and investing in human capital.
Edun urged Nigerians, both at home and in the diaspora, to seize improved macroeconomic conditions as opportunities for private sector investment, stressing that sustained growth depends on inclusive, job-rich policies.
“The task ahead is challenging, but the Federal Government remains committed to delivering tangible benefits to the average Nigerian,” he said.
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