
Nigeria targets faster economic growth by 2026 driven by oil recovery and reforms
Nigeria aims for accelerated economic growth in 2026, with projections for real Gross Domestic Product growth ranging from 4.1 percent to seven percent. This optimistic outlook is attributed to a rebound in crude oil production, ongoing structural reforms, and improved macroeconomic conditions, despite existing risks. Various institutions, including the World Bank, International Monetary Fund, and PwC Nigeria, forecast growth between 4.1 percent and 4.4 percent, while the Federal Government targets 4.68 percent and domestic groups like the Lagos Chamber of Commerce and Industry envision up to seven percent. The oil sector is crucial, contributing over 80 percent of foreign exchange earnings. The Nigerian Upstream Petroleum Regulatory Commission is working to achieve a 2.5 million barrels per day production target by reviving dormant fields, unlocking deepwater resources, and attracting foreign investment. Crude and condensate output has shown sustained growth, rising from 1.48 million bpd in February to 1.735 million bpd in June 2026. Securing oil assets is a key focus, with Tantita Security Services Nigeria Ltd TSSNL playing a significant role in protecting infrastructure in the Niger Delta, which has contributed to improved crude oil production and economic activities. TSSNL's Media Consultant, Dr. Paul Bebenimibo, highlighted the company's use of technology, including drones, and its youth empowerment initiatives, employing over 60,000 youths and providing skills acquisiti



