Nigeria has entered a phase of economic consolidation following two years of reforms that stabilised inflation, the exchange rate, and investor confidence, Finance Minister Wale Edun said.
Speaking at the 2026 Nigerian Economic Summit Group (NESG) Macroeconomic Outlook in Lagos, Edun highlighted the government’s focus on sustaining reforms to translate stability into growth, jobs, and improved living standards.
He projected GDP growth of 4.68 per cent in 2026, with inflation averaging 16.5 per cent and the exchange rate stabilising around N1,400 to the dollar. Edun emphasised that the country cannot pause or retreat, stressing that the success of consolidation will determine whether stability translates into long-term growth and shared prosperity.
Edun noted improvements in macroeconomic indicators: inflation fell from 33.18 per cent in 2024 to 14.45 per cent by November 2025; external reserves rose to $45.5 billion; and the Nigerian Exchange market capitalisation grew by almost 60 per cent year-on-year. Despite global headwinds, he said fiscal discipline was maintained, with a 3.4 per cent deficit and strengthened state allocations.
The 2026 budget, presented by President Bola Tinubu, was described as a “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” with N26 trillion earmarked for capital expenditure. Structural reforms include digitising revenue collection, improving transparency, protecting low-income earners, and expanding the tax base fairly.
NESG Chairman Olaniyi Yusuf and CEO Dr Tayo Aduloju said the outlook report provides a strategic framework for consolidating recent gains, addressing remaining structural vulnerabilities, and accelerating multi-year economic transformation. While Nigeria has moved from instability to relative macroeconomic stability, challenges remain, including job creation, poverty reduction, and productivity in key sectors.
At its core, the report stresses that continued reform, credible macroeconomic anchoring, and deliberate investments in human capital and infrastructure are essential for sustainable growth and shared prosperity.
