PwC Nigeria has projected this year’s gross domestic product (GDP) growth rate of 4.3 per cent.PwC, in its 2026 Nigeria economic Outlook, released yesterday, said the projection is predicated on gradual moderation of inflation and naira stability.

The outlook noted that the persistence of fiscal constraints reinforces the importance of capital efficiency and balance-sheet discipline. It highlighted how recent gains in macroeconomic stability are reshaping the operating environment for businesses, investors and markets as the country heads into the year.

Nigeria recorded improvements in macroeconomic stability in 2025 following key monetary and foreign exchange (FX) reforms, with inflation easing, exchange-rate conditions stabilising and external reserves strengthening.

The outlook highlighted how the stability is influencing strategic business choices in 2026, particularly around investment, cost and funding decisions as well as regulatory, tax and digital priorities.

The Economic Outlook 2026 identifies seven key issues shaping Nigeria’s economic performance in the year ahead, spanning global and domestic forces.

These, according to the outlook, include monetary policy effectiveness, fiscal sustainability and reform execution, global economic and geopolitical dynamics, domestic security and social pressures, uneven sectoral growth, consumer affordability constraints, as well as the expanding role of the digital economy and artificial intelligence.

Commenting on the report, Country Senior Partner, PwC Nigeria, Sam Abu, said: “PwC Nigeria’s Economic Outlook 2026 provides forward-looking analysis of key macroeconomic indicators and what they signal for the economy and for business leaders.

“Nigeria has achieved improved macroeconomic stability over the past year. The focus now is on how that stability is translated into sustainable economic growth, and how businesses position themselves for 2026. For companies, this stability provides a more predictable operating environment for planning, investment, and growth decisions.”

Partner and Chief Economist, PwC Nigeria, Olusegun Zaccheaus, said: “The seven themes in the outlook show how global and domestic forces will shape economic performance in 2026.

“Globally, growth is projected at around 3.1 per cent, while merchandise trade growth slows to about 0.5 per cent, keeping oil prices, capital flows, and access to foreign inflows as key channels influencing Nigeria’s growth and FX liquidity.

“Domestically, improved monetary effectiveness has reduced volatility and clarified pricing, cost and funding signals, even as fiscal pressures, security challenges, and weak household purchasing power continue to shape sector outcomes. Growth is more likely to remain concentrated in services and selected capital-intensive sectors, placing a premium on disciplined capital allocation and sector selection.”

PwC highlighted practical imperatives for business leaders in 2026: making selective investment bets in attractive sectors and regions, scenario-planning for macroeconomic and geopolitical shocks, adapting business models and cost structures for resilience, accelerating digital transformation and responsible AI adoption, and strengthening regulatory and tax compliance as reforms move from design to execution.