The Chief Executive Officer of Financial Derivatives Company, Bismarck Rewane, has said Nigeria’s economic outlook shows consumer confidence is improving.
This is expected to play a key role in driving the country’s economic growth in 2026.
He said this on Saturday at an economic discourse tagged ‘Building with Resilience in the Nigerian Economic Environment,’ organised by The Platform.
The renowned economist said Nigerians are becoming more optimistic about their income and financial situation.
He explained that recent projections show consumer confidence is rising, which reflects a stronger belief in household income and overall economic stability.
“The overall consumer outlook is that consumer confidence is rising, suggesting optimism about the economy and potential increasing consumer activity influenced by positive expectations about family income and financial situation,” Rewane said.
According to him, this positive shift in mindset is expected to lead to more spending and economic activity.
As a result, Nigeria’s Gross Domestic Product (GDP) is projected to grow by 4.4 per cent in 2026, up from 4 per cent in 2025.
Rewane stressed that the “consumer is king” mantra is becoming more important as market conditions improve.
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“At the end of the day, it is consumers. The consumer is king, technically speaking. But if your policies are not right, consumers can be slaves; that is why we have consumer protection.
“We have seen this lately when the Dangote Refinery versus the various importers, tank farms…. What happened? The consumers became king — price war between all of this — at the end of the day, the market became a disciplinarian,” he said.
Rewane noted that although Nigeria’s economy has largely been driven by consumption, the focus for 2026 is to move towards a more investment-led economy.
He said sectors such as fintech, digital services and telecommunications are leading this transition. These sectors are growing rapidly and experiencing more integration and consolidation.
Innovation, especially in Artificial Intelligence (AI), is also expected to boost economic activity.
Rewane said global technology firms have shown how optimised use of capital can generate massive revenue.
He added that agri-business and the energy sector, including a shift to cost-effective renewable solar power, will also play important roles in the year ahead.
Currency stability and corporate recovery
Rewane said the stabilisation of the naira is one of the most positive developments for businesses.
Although the currency is expected to depreciate slightly to N1,530 per dollar, he said it is now closer to its “fair value” than in previous years.
This improvement is important for companies that suffered heavy “foreign exchange translation” losses in 2023 and 2024.
He explained that as companies restructure and convert foreign debts to local obligations, and as the exchange rate becomes more stable, these one-off losses should reduce.
This is expected to support stronger corporate earnings and better profitability in 2026.
The gravity of infrastructure and security
Despite the optimism, Rewane warned that there are still challenges. He described these as “negative momentum” factors, with power supply being the most significant.
Nigeria continues to face electricity shortages, frequent grid collapses and low power generation of about 200 kilowatts per head. These issues reduce business efficiency and increase operating costs.
The agri-business sector is particularly affected, as poor electricity supply limits access to refrigeration, leading to high levels of food spoilage.
He also warned that positive economic figures may not improve living conditions unless the government tackles insecurity and poverty.
He stressed the need for a “Marshall Plan” to address poverty and ensure fair distribution of government spending, so that insecurity does not undermine economic progress.
A strategic window for investors
Rewane said 2026 will be a “year of three parts,” shaped largely by the February 2027 elections.
He explained that the first half of the year will be filled with policy meetings, budget discussions and legislative changes.
However, after May 2026, economic policy may take a back seat as political campaigning increases.
For this reason, businesses are advised to conclude major investment decisions by April, before the focus shifts fully to political activities, Rewane added.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
