The Tinubu Media Support Group (TMSG) has described the World Bank’s 4.4 per cent economic growth forecast for Nigeria as more realistic than its earlier projections, saying previous estimates underestimated the capacity of the Bola Tinubu administration.
The group said the World Bank’s decision to upgrade its 2026 and 2027 growth projections amounts to a subtle vote of confidence in the Federal Government’s ongoing economic reforms.
In a statement signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, TMSG noted that the World Bank’s revised outlook followed Nigeria’s stronger-than-expected economic performance in 2025.
According to the statement, “After seeing the Nigerian economy grow by 4.2 per cent in 2025, higher than its earlier 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 forecasts.
“This time, the Bank upgraded its earlier projections of 3.7 per cent and 3.8 per cent to 4.4 per cent for the two years, just six months after.”
The group recalled that when the International Monetary Fund (IMF) and the World Bank projected growth rates of three per cent and 3.6 per cent respectively for Nigeria in 2025 largely due to a global oil slump the Independent Media and Policy Initiative (IMPI) had argued that the country would outperform those estimates because it was no longer predominantly oil dependent.
“That was exactly what happened,” TMSG said, adding that it was encouraging to see the World Bank raise its projections for 2026 and 2027 by 0.6 and 0.7 percentage points respectively, based on factors earlier highlighted by IMPI.
TMSG noted that this marked the first time in two years that the World Bank projected growth above four per cent for Nigeria without anchoring it on oil revenues.
“For the World Bank, growth would be driven by continued expansion in services, a rebound in agricultural output, and a modest acceleration in non-oil industry,” the statement said.
The group further observed that the World Bank credited Nigeria’s 4.2 per cent growth in 2025 to ongoing economic reforms and projected that new tax laws, alongside continued prudent monetary policy, would further strengthen the economy in 2026 and 2027.
“This, for us, is a major endorsement of the efficacy of President Tinubu’s economic policies, especially as the World Bank is convinced that Nigeria will record its fastest growth in a decade this year,” TMSG said.
The group expressed confidence that the Tinubu administration would once again outperform the World Bank’s projections, as it has done in the past two years, and urged Nigerians to remain steadfast and continue to trust the President’s ability to grow the economy for the benefit of all citizens.
