WorldStage Nigeria has projected that inflation will moderate to 12.94 per cent, driven by ongoing economic reforms and improving macroeconomic conditions.
The projection is significantly below the current inflation rate of 15.06 per cent, signalling cautious optimism for economic recovery and growth.
The outlook was unveiled at the firm’s Macroeconomic Outlook 2026 event themed ‘Nigeria’s Economy: Getting it Right’, held on Thursday in Lagos.
Lagos State Commissioner for Information and Strategy, Mr. Gbenga Omotoso, who reviewed the publication titled ‘Turning the Corner’, described the report as a timely and valuable contribution to national economic discourse.
Represented by the Director of Public Affairs in the ministry, Ms. Temilade Aruya, Omotoso said the report reflects an economy gradually transitioning from strain to stability and sustainable growth.
“As its title suggests, ‘Turning the Corner’ captures a nation on the path to recovery and long-term growth,” he said.
He noted that the report also projects GDP growth of 4.49 per cent in 2026, alongside easing inflation—an outlook he described as a balance of optimism and realism.
According to him, the analysis acknowledges structural constraints such as infrastructure deficits, high capital costs, and global economic uncertainties.
Omotoso said the report provides a comprehensive assessment of key sectors, including banking, capital markets, telecommunications, agriculture, manufacturing, maritime, aviation, health, education, and the creative industry.
He emphasised the need for a coordinated growth strategy, noting that no single sector can drive economic expansion in isolation.
“Progress must be interconnected across industries,” he said.
On the banking sector, he highlighted reforms such as recapitalisation, digital innovation, and enhanced regulation as positioning the industry to play a central role in achieving a one-trillion-dollar economy.
However, he stressed the importance of workforce stability.
“Sustainable growth must be people-centred. Strong institutions rely not only on capital but also on human resources,” he added.
Speaking on capital markets, Omotoso acknowledged improved performance and rising investor confidence but cautioned against risks associated with policy uncertainty in the run-up to elections.
“Policy consistency, regulatory clarity, and macroeconomic stability are essential to sustaining investor confidence,” he said.
He further noted that the report identifies growth opportunities driven by reforms, innovation, and increased investment across critical sectors.
The publication also provides insights into key policy measures, including exchange rate unification, subsidy removal, and tax reforms.
While acknowledging short-term challenges, Omotoso maintained that these reforms are necessary for long-term economic stability.
“The message is clear: consistent policy implementation will determine the success of these reforms,” he said.
He added that the report also highlights risks such as persistent inflationary pressures, exchange rate volatility, rising debt servicing costs, and infrastructure gaps.
Omotoso stressed that inclusive growth must translate into improved living standards, job creation, and broader economic opportunities.
He called on the government, private sector, and civil society to remain committed to sustaining reform efforts.
“Turning the corner is only the beginning. Sustained progress requires discipline, strong institutions, and collective commitment,” he said.
Earlier, WorldStage President, Mr. Segun Adeleye, said the outlook provides in-depth analysis of economic trends, opportunities, and risks shaping Nigeria’s growth trajectory.
He emphasised the importance of credible data in guiding investment decisions as the economy expands.
Adeleye noted that the report was developed through collaboration with both public and private sector stakeholders.
He added that the organisation plans to publish quarterly updates to support businesses and policymakers as Nigeria pursues its one-trillion-dollar economy target.
“Work on the Q1 2026 report is already at an advanced stage, and it will deliver actionable insights for policymakers, businesses, and investors,” he said.
According to him, key indicators tracked in the report include GDP, inflation, exchange rate, oil production and prices, non-oil revenue, manufacturing PMI, and foreign reserves.
