CBN: 2026 offers real chance for Nigeria’s macroeconomic stabilisation
The Central Bank of Nigeria (CBN) says 2026 could mark a turning point for the economy, projecting stronger growth, easing inflation and improved external buffers on the back of sustained reforms and better policy coordination. In its 2026 Macroeconomic Outlook, the apex bank forecast GDP growth of 4.49 percent, headline inflation moderating to an average of 12.94 percent, and the NFEM exchange rate stabilising around ₦1,400 to the dollar, supported by easing monetary conditions and improved investor confidence.
CBN also expects external reserves to rise to $51.04 billion, driven by stronger exports, steady remittance inflows, higher oil and gas output and improved domestic refining capacity. However, it warned that the outlook remains exposed to risks including fiscal slippages, exchange rate volatility, oil production disruptions and global geopolitical tensions, noting that policy focus would remain on price stability, foreign exchange market stability and sustaining growth.
World Bank sees Nigeria’s economy growing at fastest pace in over a decade
Nigeria’s economy is set for its strongest growth run in more than a decade, with output projected to expand by 4.4 percent in both 2026 and 2027, driven by sustained momentum in the services sector, a rebound in agriculture, and the impact of far-reaching economic reforms, the World Bank has said.
In its latest Global Economic Prospects report, the Washington-based lender said the acceleration marks the fastest pace of growth in over ten years, supported by continued expansion in services, a modest pickup in non-oil industry, and improving agricultural productivity after a prolonged slowdown. The Bank added that Nigeria’s newly structured tax system and a commitment to prudent monetary policy are reinforcing growth prospects.
The outlook builds on reforms introduced nearly three years ago, including the removal of fuel subsidies and the liberalisation of the naira. While the measures initially fuelled inflation and worsened living conditions, they have strengthened public finances, helped stabilise the currency, and restored macroeconomic balance. Inflation eased to 14.45 percent in November 2025, while the naira gained 7.5 percent last year, its best performance in about 13 years.
The World Bank said Nigeria’s growth rose to 4.2 percent in 2025, up from 3.38 percent in 2024 and 3.04 percent in 2023, largely driven by finance, ICT, a modest agricultural recovery, and the country’s emergence as a net exporter of refined petroleum products
AFCON 2025: Nigeria vs Morocco — Preview, head-to-head stats and prediction
The Super Eagles of Nigeria will lock horns with host nation Morocco today in a blockbuster semi-final of the 2025 Africa Cup of Nations (AFCON) at the Prince Moulay Abdellah Stadium in Rabat, with a place in the final at stake.
Nigeria arrive as one of the tournament’s most exciting teams, boasting the most potent attack at AFCON 2025. The three-time African champions have scored 14 goals in five matches, conceding just four, as they chase a historic fourth continental crown under Malian head coach Eric Chelle. Spearheaded by CAF Player of the Year winners Victor Osimhen and Ademola Lookman, and supported by Alex Iwobi and Akor Adams, the Super Eagles have combined flair, pace and ruthlessness in the final third.
The Super Eagles began their campaign with a 2–1 win over Tanzania, edged Tunisia 3–2 in a pulsating encounter, and sealed top form with a 3–1 victory against Uganda. In the knockout rounds, Nigeria dismantled Mozambique 4–0 in the round of 16 before delivering a statement performance with a 2–0 win over tournament favourites Algeria in the quarter-finals.
Morocco, however, present Nigeria’s sternest test yet. Backed by a fervent home crowd, the Atlas Lions have built their campaign on discipline and defensive solidity. They finished top of Group A unbeaten, recorded a narrow 1–0 win over Tanzania in the round of 16, and eased past Cameroon 2–0 in the quarter-finals. Morocco have conceded just one goal in the tournament and none from open play while goalkeeper Yassine Bounou has kept four clean sheets.
Real Madrid star Brahim Díaz has been Morocco’s standout performer, scoring in every match to lead the Golden Boot race with five goals, while captain Achraf Hakimi’s return has further strengthened the hosts.
Historically, both sides have shared a fiercely contested rivalry, including Nigeria’s memorable 1–0 victory over Morocco in the 1980 AFCON semi-final in Lagos.
With Nigeria’s explosive attack pitched against Morocco’s rock-solid defence and home advantage, today’s semi-final promises a gripping, high-stakes showdown that could be decided by the finest of margins.
TotalEnergies to sell 10% stake in Renaissance JV assets in Nigeria
TotalEnergies EP Nigeria has signed a Sale and Purchase Agreement with Vaaris to divest its 10 percent non-operated stake in the Renaissance Joint Venture (JV) oil and gas licences, marking another step in the French energy major’s portfolio reshaping in Nigeria’s upstream sector.
The Renaissance JV formerly known as the Shell Petroleum Development Company of Nigeria (SPDC) JV is an unincorporated partnership comprising Nigerian National Petroleum Company Limited (55 percent), Renaissance Africa Energy Company Limited (30 percent and operator), TotalEnergies EP Nigeria (10 percent), and Agip Energy and Natural Resources Nigeria (5 percent).
Under the agreement, TotalEnergies will transfer its 10 percent participating interest in 15 oil-producing licences in the Niger Delta to Vaaris. These assets contributed about 16,000 barrels of oil equivalent per day on a net basis to the company’s production in 2025. The deal also includes TotalEnergies’ 10 percent interest in three gas-producing licences OML 23, OML 28 and OML 77.
While the participating interests in the gas assets will be transferred, TotalEnergies will retain full economic rights to them. The gas fields currently supply about half of the feed gas to Nigeria LNG. Completion of the transaction is subject to customary closing conditions, including regulatory approvals.
TotalEnergies has operated in Nigeria for more than 60 years and employs over 1,800 people. In 2024, Nigeria accounted for roughly 209,000 barrels of oil equivalent per day of the company’s global production. The firm reaffirmed its long-term commitment to Nigeria, citing its extensive downstream operations and a nationwide network of about 540 service stations.
U.S. House approves 3-year extension of AGOA trade deal for Africa
The United States House of Representatives has passed a Bill extending the African Growth and Opportunity Act (AGOA) for three more years, a move aimed at boosting trade between the United States and African nations.
The United States House of Representatives has approved legislation extending the African Growth and Opportunity Act (AGOA) for an additional three years, a move expected to strengthen trade ties with Africa and preserve duty-free access for Nigerian exports to the American market.
The bill, passed by an overwhelming 340–54 vote, grants eligible African countries continued duty-free access to the United States until December 31, 2028. It has now been transmitted to the US Senate for consideration. If approved, the extension will avert uncertainty around AGOA, which was due to expire in September 2025.
AGOA, established in 2000, allows qualifying African nations to export thousands of products, particularly non-oil goods to the US under preferential terms. The programme has become a critical trade lifeline for many economies across the continent.
According to a 2024 Brookings Institution report, African countries exported about $103 billion worth of non-crude products to the US under AGOA between 2001 and 2022. South Africa led with $55.9 billion, followed by Nigeria with $11.2 billion, Kenya with $7.3 billion, Lesotho with $6.8 billion and Madagascar with $3.6 billion.
For Nigeria, the extension offers renewed opportunities to move beyond raw and semi-processed exports into value-added goods, particularly in agriculture and agro-processing. Continued duty-free access is expected to enhance competitiveness, support small and medium-scale businesses, and drive job creation across key value chains.
South Sudan, Guinea, Rwanda to post sub-Saharan Africa’s highest GDP growth in 2026
Smaller sub-Saharan African economies are set to drive the region’s fastest growth in 2026, outpacing larger peers as oil exports resume, new mining projects come on stream and services activity remains resilient, according to the World Bank’s latest Global Economic Prospects report.
South Sudan is projected to post the region’s strongest rebound, with GDP growth estimated at an extraordinary 48.8 percent in 2026, following a deep contraction of 23.8 percent in 2025. The recovery is expected to be fuelled by the normalisation of economic activity and the resumption of oil exports after years of disruption. The International Monetary Fund has also ranked South Sudan among the world’s fastest-growing economies, forecasting growth of about 27.2 percent in 2025.
Guinea is forecast to expand by 9.3 percent in 2026, supported by the anticipated start of exports from a major iron ore project, while Rwanda’s growth is expected to strengthen to 7.2 percent, driven by investment and a broad-based expansion in services.
By contrast, some countries are projected to lag. Equatorial Guinea is expected to grow by just 0.4 percent, Lesotho by 0.7 percent, and South Africa by 1.4 percent.
Nigeria, Africa’s most populous nation, is forecast to record its strongest growth in more than a decade, underpinned by services momentum, a rebound in agriculture and ongoing reforms. Overall, sub-Saharan Africa’s growth is projected to rise to 4.3 percent, reflecting stronger performance in its largest economies.
