Nigeria's economy is expected to expand by 4.0 in 2026, outpacing the projected global growth of 3.1, according to the Mastercard Economics Institute MEI's Economic Outlook 2026. The report highlights how fiscal reforms, strategic investments, and growing digital adoption are driving business activity and boosting consumer confidence across the country.
The MEI notes that resilient consumer demand will be a major driver of growth. Structural reforms and easing inflation pressures are helping households regain purchasing power, enabling them to spend more freely. Mastercard data indicates that Nigerian consumers increased discretionary spending in the first half of 2025, particularly on travel and lifestyle services, signaling renewed confidence in the economy.
Trade diversification is another key factor supporting growth. African economies, including Nigeria, are strengthening trade within the EEMEA region and other emerging markets. While U.S. tariffs continue to affect key sectors like automobiles, textiles, and agriculture, the Chinese Mainland's removal of import duties on most African goods is opening new markets, deepening exporters' integration into global supply chains. Mastercard's cross-border payment solutions are supporting businesses by enabling faster and more efficient international transactions.
