PricewaterhouseCoopers has revealed that Nigeria recorded improved macroeconomic stability in 2025 following key monetary and foreign-exchange reforms by President Bola Tinubu’s administration.

PwC, in its ‘Economic Outlook 2026’ report, said Mr Tinubu’s economic policies eased inflation, stabilised exchange-rate conditions, and strengthened Nigeria’s external reserves.

The report was co-signed by PwC’s manager in Nigeria, David Meres, and the Head, Clients and Markets Development, PwC Nigeria, Okemute Olatunji-Albert.

“The report finds that Nigeria recorded improvements in macroeconomic stability in 2025 following key monetary and foreign-exchange reforms, with inflation easing, exchange-rate conditions stabilising, and external reserves strengthening.

“PwC’s Economic Outlook 2026 highlights how this stability is influencing strategic business choices in 2026, particularly around investment, cost, and funding decisions, and regulatory, tax, and digital priorities,” a PwC statement said.

Commenting on the report, PwC Nigeria’s country senior partner, Sam Abu, said, “PwC Nigeria’s Economic Outlook 2026 provides forward-looking analysis of key macroeconomic indicators and what they signal for the economy and for business leaders. Nigeria has achieved improved macroeconomic stability over the past year.

“The focus now is on how that stability is translated into sustainable economic growth and how businesses position for 2026. For companies, this stability provides a more predictable operating environment for planning, investment, and growth decisions.”

The PwC Economic Outlook 2026 identifies seven key issues shaping Nigeria’s economic performance in the year ahead, spanning global and domestic forces.

The key issues include monetary policy effectiveness, fiscal sustainability and reform execution, global economic and geopolitical dynamics, domestic security and social pressures, uneven sectoral growth, consumer affordability constraints, and the expanding role of the digital economy and artificial intelligence.

Speaking on the outlook for 2026, Olusegun Zaccheaus, partner and chief economist at PwC Nigeria, said the seven themes in the outlook show how global and domestic forces will shape economic performance in 2026.

PwC Nigeria further noted that its outlook projects real GDP growth of about 4.3% in 2026, with inflation moderating gradually and the naira remaining broadly stable.

“Fiscal constraints persist, reinforcing the importance of capital efficiency and balance-sheet discipline,” the statement said.

PwC Nigeria also noted that practical imperatives for business leaders in 2026 would involve selective investment bets in attractive sectors and regions, scenario-planning for macroeconomic and geopolitical shocks, adapting business models and cost structures for resilience, accelerating digital transformation and responsible AI adoption, and strengthening regulatory and tax compliance as reforms move from design to execution.