Bismarck Rewane forecasts Nigeria’s “strongest economic footing in a decade” by 2026

Leading economist Bismarck Rewane has projected that Nigeria is on course for its most robust economic position in over ten years by 2026.

He attributes this anticipated turnaround to a powerful combination of falling inflation, rising investment, major corporate stock listings, and stable monetary conditions.

Presenting his outlook at the Parthian Economic Discourse 2025 in Lagos, Rewane described 2026 as a “defining year” where structural reforms, private-sector growth, and improved policy coordination will converge to reposition Africa’s largest economy.

Rewane forecasts a staggering 191% surge in the Nigerian Exchange’s market capitalisation, jumping from the current N90 trillion to N262 trillion. This would be driven by mega-listings like Dangote Refinery and NNPC, alongside strong profitability in telecoms, banking, and cement.

Inflation is expected to ease to around 20%, boosted by the Central Bank’s (CBN) policies, improved domestic refining, and stronger manufacturing output. This will help restore household purchasing power.

The exchange rate is projected to appreciate and stabilise between N1,450 and N1,500 per dollar, supported by higher oil production, improved foreign exchange reserves, and reduced speculation.

Overall economic growth is forecast to rise to 4.1%, driven by business expansion, infrastructure improvements, and better trade flows.

Six key industries are identified as growth drivers: Agriculture (₦104.6tn), Real Estate (₦72.41tn), Telecommunications (₦41.07tn), Manufacturing (₦38.25tn), the Creative Economy (₦7.23tn), and Tech/Fintech (₦2.97tn).

Rewane emphasized that the CBN will likely begin cautious interest rate cuts in 2026, but only after it is convinced that lower inflation is sustainable. He also highlighted significant risks that could derail this positive outlook, including a drop in oil prices below $60 per barrel, worsening insecurity in food-producing regions, excessive government spending during the 2026 election year, and sharp decline in global commodity prices.

The forecast points to stellar corporate earnings as a sign of renewed vitality. MTN Nigeria and Dangote Cement are highlighted as standouts, with the latter’s Q2 2026 profit after tax projected to jump over 100% to N628 billion.

Meanwhile, the banking sector is expected to enter 2026 with greater stability, aided by a stronger Naira and recent recapitalisation.

In his concluding remarks, Rewane stated that Nigeria is “standing at the threshold of a profound economic reset.”

The nation’s ability to secure its productive regions and maintain disciplined policies will determine whether it accelerates into a new era of growth or stumbles.

Echoing the need for collective effort, Oluseye Olusoga, Group Managing Director of Parthian Capital, urged Nigerians to take shared responsibility for the country’s security. “Security is not a job only for the government. It should be our own job too. Without security, investment won’t flow,” he said.

About The Author

Dele Fashomi

Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.

Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.

He had done many courses in communication, including the EU-BBC Editing Course in 2002.

Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).

He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.

He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.

Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled:  Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.

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