WAEMU growth to slow to 5.6% as Nigeria inflation eases

· Finance · Nigeria · Benin

The World Bank expects economic growth in the West African Economic and Monetary Union (WAEMU) to slow to 5.6% in 2026 before stabilizing at 5.7% in 2027 and 2028, with Benin, Côte d'Ivoire and Niger expected to drive growth. Separately, Nigeria's annual inflation rate fell to 14.63% in September 2026 from 15.39% in August and 20.98% a year earlier, helped by a 1.55% decline in food prices, with rice, tomatoes and onions becoming cheaper. The two data points together sketch a region where growth remains among Sub-Saharan Africa's fastest even as it decelerates, and where price pressures are loosening, giving regional central banks more room to consider easing monetary policy.

Why it matters：Slower but still robust growth alongside cooling inflation shapes monetary policy and borrowing costs across West Africa, affecting sovereign issuers, regional banks and cross-border investors.

Key points

  • World Bank sees WAEMU growth slowing to 5.6% in 2026, then stabilizing at 5.7% in 2027-2028.
  • Benin, Côte d'Ivoire and Niger are expected to drive growth.
  • Nigeria's inflation fell to 14.63% in September from 15.39% in August and 20.98% a year earlier, aided by a 1.55% drop in food prices.

Sources (original reporting)

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