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.
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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
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
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