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Reform Watch

Economy

Reform Watch: growth, prices, tax and the hard choices behind them, explained for people who live with the results.

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Reform Watch numbers

4.2% growth
First half of 2026, up from 3.9% a year earlier (World Bank).
15.39% inflation
August 2026, down from 23.14% a year earlier.
23% policy rate
Cut from 26.5% by the CBN on 22 September 2026.
$53.8bn reserves
End of August 2026, up from $45.5bn at end-2025.