Business
Nigeria to Become Africa’s Third-Largest Economy in 2026
Nigeria Africa third-largest economy in 2026, IMF predicts growth from $285bn to $334bn amid reforms and rising oil production
The International Monetary Fund has projected that Nigeria will overtake Algeria to become Africa’s third-largest economy in 2026, driven by rising oil production, improved access to foreign exchange, and ongoing economic reforms.
Also read: Rotary Africa Celebrates Growth with Two Zones
According to the IMF’s World Economic Outlook released in October 2025, Nigeria’s gross domestic product grew to $285 billion in 2025, placing it fourth in Africa behind South Africa ($426 billion), Egypt ($349 billion), and Algeria ($288 billion).
The fund now anticipates Nigeria’s GDP will reach $334 billion in 2026, while Algeria’s is expected to fall to $284 billion.
IMF officials attribute the growth outlook to policy measures including the removal of petrol subsidies, reforms to the exchange rate system, and adjustments to government finances.
While inflation remains a challenge in the short term, the IMF expects these measures to sustain medium-term growth.
In January 2026, the IMF revised Nigeria’s economic growth forecast to 4.4 percent, up from an earlier estimate of 4.2 percent.
The World Bank has similarly increased its 2026 forecast to 4.4 percent, compared with 3.7 percent projected in June 2025.
Nigeria’s economic ranking has fluctuated in recent years due to currency devaluation, economic rebasing, and other continental challenges.
Also read: UNN to Establish International Centre for African and Taiwan Studies
Analysts say the projected rise reinforces the country’s status as a leading African economy and underscores the impact of structural reforms.
Business
Can African Engineers Compete obally? ChipMango Is Creating Opportunities in the semiconductor Industry
The semiconductor industry requires highly specialised engineering knowledge.
For African engineers, gaining access to professional tools, industry experience and international opportunities can open
important doors.
ChipMango is working at the intersection of talent development and commercial engineering, creating pathways for African expertise to contribute to a global industry.
The growth of businesses like ChipMango also highlights the importance of investment in Africa’s innovation ecosystem. Through Boost Africa, a joint initiative of the EIB and African Development Bank, supported by the European Union, the European Investment Bank helps mobilise financing through venture capital funds for innovative African businesses. Watch the video to hear the story behind ChipMango.
Watch the video:
Business
From Classroom to Industry: How ChipMango Is Preparing African Engineers for the Semiconductor Market
Studying engineering is one thing. Having the opportunity to apply that knowledge to real industry projects is another.
ChipMango connects industry-aligned learning with practical semiconductor design and verification work, giving
engineers a pathway to develop skills relevant to commercial projects.
Its work illustrates why investment in African innovation must also consider the talent, technical expertise and infrastructure required to build competitive businesses.
Through Boost Africa, the European Investment Bank (EIB) supports African entrepreneurship by investing through venture capital funds, helping innovative businesses access the capital and support they need to develop and grow.
Watch the video to learn more about ChipMango’s approach.
Watch the video:
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