TMSG Hails World Bank’s 4.4% Growth Forecast for Nigeria
By Alabidun Shuaib AbdulRahman
The Tinubu Media Support Group (TMSG) has described the World Bank’s 4.4 per cent economic growth forecast for Nigeria as a more realistic assessment compared to what it termed the institution’s earlier off-mark projections.
The group said the revised outlook showed that the World Bank had previously underestimated the capacity of the Bola Ahmed Tinubu administration to drive economic growth.
In a statement signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, TMSG said the decision by the World Bank to upgrade its growth projections for 2026 and 2027 amounted to a quiet endorsement of the Federal Government’s economic reforms.
According to the group, the revised forecast followed Nigeria’s stronger-than-expected economic performance in 2025, when the economy reportedly grew by 4.2 per cent, exceeding the World Bank’s earlier projection of 3.7 per cent.
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“After seeing the Nigerian economy grow by 4.2 per cent in 2025, more than its 3.7 per cent projection, it was gratifying that the World Bank opted against underestimating the President Bola Tinubu administration in its 2026 and 2027 forecast,” the statement said.
TMSG noted that the World Bank had initially projected growth rates of 3.7 per cent and 3.8 per cent for 2026 and 2027 respectively, but later upgraded both figures to 4.4 per cent within six months.
The group recalled that ahead of 2025, the International Monetary Fund (IMF) and the World Bank had projected economic growth of about 3 per cent and 3.6 per cent for Nigeria, citing concerns over a global oil slump.
It said those projections were faulted at the time by the Independent Media and Policy Initiative (IMPI), which argued that Nigeria would perform better because the economy was no longer largely dependent on oil.
“And that was exactly what happened,” TMSG said, adding that the World Bank’s upward review for 2026 and 2027 aligned with IMPI’s earlier position.
The group also pointed out that this was the first time in two years that the World Bank projected growth of about 4 per cent for Nigeria without anchoring its optimism on oil production.
According to TMSG, the World Bank said growth would be driven by continued expansion in the services sector, a rebound in agricultural output and modest acceleration in non-oil industrial activities.
It added that the Bank credited the 4.2 per cent growth recorded in 2025 to ongoing economic reforms, including new tax laws and what it described as prudent monetary policy, which are expected to support growth in 2026 and 2027.
TMSG described the latest forecast as a major endorsement of President Tinubu’s economic policies, noting that the World Bank believes Nigeria could record its fastest growth in a decade.
The group urged Nigerians to keep faith with the administration and continue to trust the President’s capacity to grow the economy for the benefit of the country.
