Nigeria has been ranked among the world’s top 10 contributors to global economic growth in 2026, according to new data released by the International Monetary Fund (IMF).
The IMF report places Nigeria sixth globally, with the country projected to contribute 1.5 per cent to global real GDP growth next year, putting Africa’s largest economy ahead of several advanced and emerging economies, including Germany, Brazil, and Indonesia.
The ranking aligns with comments by billionaire entrepreneur Elon Musk, who said on Friday that “the balance of power is changing,” while sharing IMF data showing emerging economies increasingly driving global growth.
According to the IMF, China is expected to remain the largest contributor to global growth in 2026, accounting for 26.6 per cent, followed by India at 17 per cent, ranking ahead of the United States, which is projected to contribute 9.9 per cent.
Combined, China and India are expected to drive 43.6 per cent of global economic expansion in 2026.
Other countries listed in the top 10 contributors include Indonesia (3.8 per cent), Türkiye (2.2 per cent), Saudi Arabia (1.7 per cent), Vietnam (1.6 per cent), Brazil (1.5 per cent), and Germany (0.9 per cent).
The IMF data also highlights the growing dominance of the Asia-Pacific region, which is projected to account for nearly 50 per cent of global economic growth, underscoring the region’s sustained economic momentum.
Reacting to the figures, Musk noted that India’s rise reflects a broader shift in global economic power. Analysts say his interest is not incidental, pointing to his recent meetings with Indian Prime Minister Narendra Modi, factory site inspections, and efforts to replicate Tesla’s China expansion model in India’s vast consumer market.
The IMF noted that India’s growth is being driven largely by domestic demand and manufacturing expansion, rather than exports, even as global trade remains sluggish.
More broadly, the data shows a widening gap between emerging and advanced economies. While emerging markets are projected to grow by 4.2 per cent in 2026, advanced economies are expected to expand by just 1.8 per cent, with the eurozone contributing only 2 per cent to global growth.
Economists say the trend reinforces a long-observed shift: while technological leadership may still reside in Western economies, the engine of global growth is increasingly powered by emerging markets.
