Nigeria Roundup: World Bank growth boost, UAE investment drive, security developments

World Bank projects Nigeria’s fastest growth in over a decade

Nigeria’s economy is on course to record its strongest expansion in more than 10 years, with the World Bank upgrading its growth forecast to 4.4% for both 2026 and 2027. In its latest Global Economic Prospects report, the Bank said growth rose to 4.2% in 2025, driven by services, particularly finance and information and communication technology, alongside a modest agricultural recovery and Nigeria’s emergence as a net exporter of refined petroleum products. “Growth in Nigeria is forecast to strengthen to 4.4 percent in both 2026 and 2027, the fastest pace in over a decade,” the report said, adding that tax reforms and prudent monetary policy are expected to support activity, improve investor sentiment and further reduce inflation. The Bank, however, cautioned that sustaining momentum will require tackling long-standing structural weaknesses and strengthening fiscal discipline to ensure growth is durable and inclusive.

Nigeria and UAE deepen ties

President Bola Tinubu has announced that Nigeria will co-host the Investopia investment conference with the United Arab Emirates in Lagos in February, as both countries seek to attract global capital and boost sustainable investment inflows. The announcement was made on the sidelines of the 2026 Abu Dhabi Sustainability Week, following the conclusion of a Comprehensive Economic Partnership Agreement (CEPA) between Nigeria and the UAE. Tinubu described the CEPA as a historic deal that will deepen cooperation in renewable energy, infrastructure, logistics and digital trade. “We warmly invite our partners to help build sustainable and shared prosperity for Nigeria, Africa and the world,” he said, noting that Nigeria aims to mobilise up to $30 billion annually in climate and green industrial finance while strengthening climate governance through a new national carbon market framework.

Lagos fire service reports 133 deaths in 2025

The Lagos State Fire and Rescue Service said 133 bodies were recovered from emergency incidents across the state in 2025, as it responded to 2,617 emergency calls during the year. Speaking at the agency’s annual staff engagement, Controller General Margaret Adeseye said fire incidents accounted for about 85% of all calls, with 473 victims rescued alive. She disclosed that properties valued at ₦118.3 billion (approx. US$78.9 million) were saved, while losses stood at ₦19.7 billion (approx. US$13.1 million), representing a 6:1 save-to-loss ratio. Adeseye said the figures highlight the importance of preparedness and professionalism in a rapidly growing megacity, adding that the recent passage of the Lagos State Fire and Rescue Service Bill has strengthened the agency’s institutional framework and operational efficiency.

Police decline to comment on U.S. airstrikes

The Nigerian Police Force has confirmed it has intelligence on recent United States airstrikes against terrorist targets in Sokoto State, but said it would not disclose details publicly. Force spokesperson Benjamin Hundeyin said the matter should be addressed by defence authorities, stressing that the police would not comment on the operation. The strikes, carried out on December 25, were confirmed by the U.S. Department of Defence, which said “multiple ISIS terrorists” were killed in an operation conducted at Nigeria’s request. U.S. President Donald Trump described the action as a “powerful and deadly strike” against ISIS-linked militants in northwest Nigeria.

U.S. delivers military assets to support counter-terror operations

Nigeria’s fight against terrorism and banditry received a boost with the delivery of what the United States described as “critical military supplies” to support ongoing security operations. U.S. Africa Command (AFRICOM) said the delivery underscores the security partnership between both countries, although details of the equipment were not disclosed. The development comes as Nigeria’s Chief of Air Staff, Air Marshal Sunday Aneke, seeks to fast-track the acquisition of 12 AH-1Z attack helicopters from the United States. The latest support follows recent joint U.S.-Nigerian strikes against ISIS-affiliated groups in Sokoto State.