Economy
Best Prop Trading Firms in Nigeria 2026
A typical trader’s risk appetite often increases once they’ve scored a few wins. The reasoning is that, if I take bigger risks, I may go home with a bigger paycheck. But risk appetite alone doesn’t increase the chances of higher earnings; you also must invest a lot more money.
This need for higher trading capital is a gap that prop trading firms seek to plug. They give skilled traders capital and then agree on how to split the gains. The tradeoff for you as a trader is that you often pay upfront fees for evaluation or instant funding, operate under strict guidelines, and may lose access if you violate risk limits. And this is why you must choose a firm with which you can have a healthy relationship. This article presents the top options in Nigeria.
List of best prop trading firms in Nigeria 2026
- OneFunded – the fastest growing prop firm in 2026, with easy and transparent trading rules.
- FundedNext – prop firm offering trader-friendly challenge models
- FTMO – prop firm known for strict rules and structured evaluations
- Topstep – a futures prop firm focused on discipline and risk control
- Take Profit Trader – a prop firm with simple evaluations and clear rules
1. OneFunded
| Year founded | 2024 |
| Headquarters | London, England, UK |
| Funding model | Evaluation/challenge |
| Max capital | $200,000 |
| Profit split range | 80% default, 90% after purchasing add-on |
| Primary markets | Forex, crypto, indices, and metals |
| Trading platforms | cTrader, TradeLocker, MT5 |
Challenge Structure
OneFunded’s funding model is exclusively challenge-based. That is, traders access a funded account with a simulated trading environment after passing the evaluation. You can choose between a 1-step and 2-step challenge and pay a one-time fee, which is also refundable. The table below shows a detailed summary of the firm’s challenge structure.
| 1-Step Challenge | 2-Step Challenge | 1F Limited Challenge | |
| Phases | 1 | 2 | 2 |
| Account sizes available | $2,000, $5,000, $10,000, $25,000, $50,000, $100,000, $200,000 | $2,000, $5,000, $10,000, $25,000, $50,000, $100,000, $200,000 | $2,000, $5,000, $10,000, $25,000 |
| Profit targets | 10% | 8% (Phase 1) 5% (Phase 2) | 7% (Phase 1) 4% (Phase 2) |
| Drawdown limits | Daily: 4% Maximum: 6% | Daily: 5% Maximum: 10% | Daily: 5% Maximum: 11% |
| Minimum trading days | 5 days | 3 days (per phase) | 2 days (per phase) |
| Trading period | Unlimited | Unlimited | Unlimited |
| Entry fees (per account size) | $2K: $29; $5K: $56; $10K: $107; $25K: $143; $50K: $215; $100K: $395; $200K: $699 | $2K: $23; $5K: $45; $10K: $89; $25K: $125; $50K: $195; $100K: $361; $200K: $650 | $2K: $25; $5K: $49; $10K: $92; $25K: $135 |
Payouts and Trader Support
This prop trading firm processes payouts on a 14-day cycle after requests, but you can shorten this period with a seven day add-on. And the available methods are cryptocurrency (USDT) for payouts below $1,000 and bank transfer for higher amounts.
According to our research, users find OneFunded as quite reliable. For example, the firm has a 4.4-star rating from 141 Trustpilot reviews. Most reviewers praise the firm for transparent payouts and fair trading conditions. Support is also quite responsive. We established that your queries will be addressed within 24 hours.
Strengths and Ideal Users
Our research established that OneFunded has a high pass rate, which could be due to its no-pressure environment. The unlimited challenge durations allow traders to strategize without time constraints. Also, the firm provides all the details on its website regarding trading rules, fees, and payout processes. OneFunded is best for Nigerian traders seeking accessible and supportive platforms with flexible conditions.
2. FundedNext
| Year founded | 2022 |
| Headquarters | Ajman, United Arab Emirates |
| Funding model | Evaluation with progression to a funded account; Instant funding |
| Max capital | $200,000 |
| Profit split range | Starts at 15% in challenge accounts, progresses to 90% in FundedNext accounts |
| Primary markets | Forex, indices, and commodities |
| Trading platforms | MetaTrader 4 and 5, cTrader, and Match-Trader. TradingView for analysis |
Challenge Structure
FundedNext offers two categories of funded trading programs, one for CFDs and the other for futures. The CFDs one is the broadest in terms of paths to funded status; there is Evaluation (2-step), Express (1-step with high target), Stellar 1-Step, Stellar 2-Step, and Stellar Lite (2-step). The table below summarizes the key features of these programs:
| Stellar 1-Step | Stellar 2-Step | Stellar Lite (2-Step) | Stellar Instant | |
| Account sizes available | $6k, $15k, $25k, $50k, $100k, $200k | $6k, $15k, $25k, $50k, $100k, $200k | $5k, $10k, $25k, $50k, $100k, $200k | $2k, $5k, $10k, $20k |
| Profit targets | 10% | 8%(Phase 1) 5%(Phase 2) | 8%(Phase 1)
4%(Phase 2) |
N/A |
| Drawdown limits | Daily: 3% Maximum: 6% | Daily: 5% Maximum: 10% | Daily: 4% Maximum: 8% | Daily: N/A
Maximum: 6% |
| Minimum trading days | 2 days | 5 days (per phase) | 5 days (per phase) | N/A |
| First withdrawal | 5 days | 21 days | 21 days | On demand |
| Performance reward | 15% | 15% | 15% | Up to 80% |
| Entry fees | $6k: $66; $15k: $130;
$25k: $220; $50k: $330; $100k: $570; $200k: $1,100 |
$6k: $60; $15k: $120; $25k: $200; $50k: $300; $100k: $550; $200k: $1,100 | $5k: $33; $10k: $60; $25k: $140; $50k: $230; $100k: $400;
$200k: $799 |
$2k: $60; $5k: $150, $10k: $300; $20k: $600 |
| Refundable fee | Full price for all account sizes | Full price for all account sizes | Full price for all account sizes | N/A |
For the FundedNext Futures product, the firm offers two regular challenge models (Rapid and Legacy), and one limited-time exclusive challenge called Bolt. Below are the key features:
| Rapid (1-Step) | Legacy (1-Step) | Bolt (1-Step) | |
| Account sizes available | $25k, $50k, $100k | $25k, $50k, $100k | $50k |
| Profit target(s) | $25K: $1,500; $50K: $3,000; $100K: $5,000 | $25K: $1,250; $50K: $2,500; $100K: $6,000 | $3,000 |
| Drawdown limits | Maximum (Trailing): $25K: $1,000; $50K: $2,000; $100K: $2,500;
Daily: N/A |
Maximum (Trailing): $25K: $1,000; $50K: $2,000; $100K: $3,000;
Daily: N/A |
Maximum: $2,000
Daily: $1,000 |
| Entry fee | $25k: $110; $50k: $200; $100k: $280 | $25k: $80; $50k: $150; $100k: $250 | $100 |
| Reset fee | $25k: $97; $50k: $176; $100k: $247 | $25k: $70; $50k: $132; $100k: $220 | $88 |
Payouts and Trader Support
Our investigation found that FundedNext processes payouts within five to 24 hours. In fact, the firm offers an extra $1,000 compensation for each delayed payout. First payouts vary depending on the challenge and market. For CFDs models like Stellar 2-Step and Stellar Lite, the initial withdrawal is available 21 days after funding; it comes down to five days for Stellar 1-Step, and on-demand for Stellar Instant. And when the process is successful, you can receive funds via RiseWorks, Confirmo, and crypto (USDT).
Trustpilot reviews, 54,551 at writing, give the firm a strong 4.5/5 rating. Most users commend FundedNext for fast and reliable payouts. And regarding customer support, most users state that it is professional and responsive. Our research can confirm this, and add that the chat function on the website worked better.
Strengths and Ideal Users
FundedNext offers the most comprehensive funded trader programs in Nigeria. Add to that performance rewards during challenges, unlimited time for evaluations, and news trading allowance. The firm also has flexible trading guidelines and the support is professional. The firm is best for forex and futures traders seeking high profit shares, news/event strategies, and rapid scaling without time pressure.
3. FTMO
| Year founded | 2014 |
| Headquarters | Prague, Czech Republic |
| Funding model | Two-step evaluation process |
| Max capital | $200,000 |
| Profit split range | Up to 90% |
| Primary markets | Forex, crypto, indices, and commodities |
| Trading platforms | MetaTrader 4 and 5, cTrader, and DXtrade |
Challenge Structure
Unlike OneFunded, FTMO has only one challenge, the FTMO Challenge. This is a two-phase evaluation process that leads to a funded FTMO Account. You must know that the funded account operates in a simulated environment, which means that the funds are fictitious but the profit splits are real money. The table below presents the key features:
| FTMO challenge account size | $200,000 | $100,000 | $50,000 | $25,000 | $10,000 |
| Profit target | STEP 1: 10% STEP 2: 5% | STEP 1: 10%
STEP 2: 5% |
STEP 1: 10%
STEP 2: 5% |
STEP 1: 10% STEP 2: 5% | STEP 1: 10% STEP 2: 5% |
| Max. daily loss | 5% | 5% | 5% | 5% | 5% |
| Max. loss | 10% | 10% | 10% | 10% | 10% |
| Min. trading days | 4 days | 4 days | 4 days | 4 days | 4 days |
| Trading period | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
| Refund | Yes 100% | Yes 100% | Yes 100% | Yes 100% | Yes 100% |
| Entry fee | €1,080 | €439 (offer) | €345 | €250 | €89 |
Payouts and Trader Support
FTMO allows on-demand payouts after a minimum of 14 days from the first trade on funded accounts. It processes the payouts within 1-2 business days via bank wire, Skrill, cryptocurrencies, or instant card transfers like Visa Direct (up to $20,000). The firm doesn’t charge a cent on its platform during this process.
We established that FTMO’s customer support channels operate 24/7 in 20 languages. There is also plenty of community features, including a 100k+ member Discord, and a 400k-subscriber YouTube channel. The firm also offers plenty of educational material via FTMO Academy.
Strengths and Ideal Users
FTMO has one of the longest running trader funding programs in the sector. This speaks to its tenacity and relevance. Other strengths include robust educational resources and advanced analytics tools (e.g., Account MetriX, Trading Journal, etc.). We also learned through Reddit that the firm is reliable, operates transparently, and traders experience minimal slippage issues despite strict rules.
FTMO is best for experienced traders seeking a reputable, resource-rich platform with high capital access and scaling opportunities in Nigeria.
4. TopStep
| Year founded | 2012, rebranded from TopStepTrader to TopStep in 2020 |
| Headquarters | Chicago, Illinois, USA |
| Funding model | Evaluation with progression to a live funded account |
| Max capital | $150k in challenges; $750k across five Express Funded Accounts |
| Profit split range | 50% to 100% |
| Primary markets | CME Foreign Exchange Futures, CME Equity Futures, CME Agricultural Futures, CME NYMEX Futures, CME CBOT Agricultural Futures, CME CBOT Financial/Interest Rate Futures, and CME COMEX Futures |
| Trading platforms | TopStepX, NinjaTrader, Quantower, Tradovate, TradingView |
Challenge Structure
TopStep takes prospective traders through a primary challenge phase; the evaluation is called Trading Combine. Those who pass this stage proceed to the Express Funded Account. This is funded account that uses fictitious funds to hone traders’ skills. And the upside that you receive rewards for every successful trade. If the team and TopStep are satisfied with your skills, you may be called upon to operate a Live Funded Account.
The table below summarizes the account sizes you can choose at the Trading Combine stage; the structure is the same up to the Live Funded Account. Note that you can choose the “No activation fee” path or the “Standard” path.
| Path | Account Size (Buying Power) | Profit Target | Monthly Price | Max Loss Limit | Max Position Size | Activation Fee |
| No Activation Fee | $50k | $3,000 | $89 | $2,000 | 5 contracts | Free |
| No Activation Fee | $100k | $6,000 | $139 | $3,000 | 10 contracts | Free |
| No Activation Fee | $150k | $9,000 | $189 | $4,500 | 15 contracts | Free |
| Standard | $50k | $3,000 | $49 | $2,000 | 5 contracts | $129 (one-time, after passing) |
| Standard | $100k | $6,000 | $99 | $3,000 | 10 contracts | $129 (one-time, after passing) |
| Standard | $150k | $9,000 | $149 | $4,500 | 15 contracts | $129 (one-time, after passing) |
Payouts and Trader Support
TopStep starts rewarding traders at the Express Funded Account (XFA) stage. The first payout requires at least five winning days of $150 or more in profits, and you can request up to four withdrawals in a month. The firm processes payouts daily with instant deductions for quick access, though specific channels like bank transfers or other methods are handled via the platform with dedicated support.
Also, the firm offers robust educational resources such as in-depth strategy courses, daily TopStepTV broadcasts featuring expert insights, and personalized Coach T analytics. There is also a vibrant community through a large Discord chatroom with over 150,000 members and coaches, plus a Facebook group for networking and accountability. Customer support is accessible via 24/7 chat, weekday phone assistance, SMS, WhatsApp, and email options for prompt help.
Strengths and Ideal Users
TopStep specializes in the futures market, and, according to information on its website, it has funded more than 10,000 traders into live accounts for over 12 years. The Trading Combine feature is also a standout program that offers a streamlined single-rule path to a live funded account. Traders also enjoy features like TopStepX, a proprietary trading platform tailored for futures traders. As such, the firm is best for futures traders needing structure and coaching.
5. Take Profit Trader
| Year founded | 2021 |
| Headquarters | Windermere, Florida, USA |
| Funding model | Subscription-based evaluation with progression to a live account |
| Max capital | $150,000 |
| Profit split range | 80% for PRO Accounts; 90% for PRO+ Accounts |
| Primary markets | Futures and options contracts across Equity Indices, Energy, Metals, Currencies, Agriculture, Crypto, and Treasuries |
| Trading platforms | NinjaTrader, TradingView, Tradovate, Quantower, R Trader, MetaTrader 4, MetaTrader 5 |
Challenge Structure
Take Profit Trader uses a single-step evaluation process and upon passing, traders move to a funded PRO account. Traders get a test account at the evaluation phase, where they trade in a simulated environment. They don’t get a live environment until they graduate to the PRO+ account. The table below summarizes some of the key features of the different account types:
| Feature | TEST | PRO | PRO+ |
| Trading environment | Simulated | Simulated | Live |
| Withdrawals | None | Day one | Day one |
| Profit split | None | 80/20 | 90/10 |
| Maximum withdrawal amount | None | No max | No max |
| Buffer rules | None | Yes | None |
| Drawdown | End of Day | Intra day | End of Day |
| Consistency rule | Yes | None | None |
| Scaling rule | None | None | None |
| Broker rates | $5/$0.50 RT | $5/$0.50 RT | Broker rates |
And, you can choose a trading account from $25,000 to $150,000, the maximum allocation. The table below details the parameters of each account size:
| Account Size | Monthly Subscription | Profit Target | Max Position Size | Daily Loss Limit | EOD Trailing Drawdown |
| $25,000 | $150 | $1,500 | 3 contracts/
30 micros |
Removed | $1,500 |
| $50,000 | $170 | $3,000 | 6 contracts/
60 micros |
Removed | $2,000 |
| $75,000 | $245 | $4,500 | 9 contracts/
90 micros |
Removed | $2,500 |
| $100,000 | $330 | $6,000 | 12 contracts/
120 micros |
Removed | $3,000 |
| $150,000 | $360 | $9,000 | 15 contracts/ 150 micros | Removed | $4,500 |
Payouts and Trader Support
Once you graduate to the PRO account, Take Profit Trader offers payouts starting from day one. But your account balance must exceed the buffer zone (equal to max drawdown). You will get an 80% share of profits with a PRO account and 90% on PRO+ after 60 trading days. Our investigation showed that the firm processes payouts in 24-36 hours via Plaid (US banks), PayPal, or Wise. You can request withdrawals as many times as possible, and payouts are free over $250, and a $50 fee under that. And, KYC verification is required before first withdrawal using standard ID documents.
However, Tak Profit Trader does not offer educational resources such as those available at competitors. Instead, you’ll have to rely on help articles for rules and a Discord community for peer discussion. Customer support operates via live chat, email, and Discord.
Strengths and Ideal Users
Take Profit Trader’s single-step evaluation makes it stand out, especially for traders looking for an expedited path to funded accounts. It’s pricing is also competitive, and even the broker fees are affordable. However, a lack of educational resources makes the firm best for risk-tolerant and experienced futures traders only.
Comparative Analysis of the Best Prop Firms
| Firm | Max Allocation | Profit Split | Evaluation Steps | Best Feature | Trustpilot Rating |
| OneFunded | $200,000 | Up to 90% | Multiple paths (1-Step & 2-Step) | Unlimited challenge duration with a high pass rate | 4.4/5 |
| FTMO | $200,000 | Up to 90% | Two-Step Challenge | Robust educational resources and advanced analytics tools | 4.8/5 |
| FundedNext | $200,000 (CFDs); $100,000 (Futures) | Up to 90% | Multiple paths (1-Step & 2-Step; Instant) | Most comprehensive funded trader programs with news trading allowance. | 4.5/5 |
| TopStep | $150,000 | 50%–100% | Single-step Trading Combine | Futures specialization with coaching, community, and proprietary trading platform. | 3.6/5 |
| Take Profit Trader | $150,000 | 80% (PRO); 90% (PRO+) | Single-Step Evaluation | Day-one withdrawals on funded accounts | 4.4/5 |
Strategies for Selecting a Prop Firm in Nigeria
1. Align Challenge Rules with Your Trading Timeframe
Choose a firm whose evaluation period structure matches your typical position-holding duration. If you trade slowly or prefer no time pressure, opt for firms offering unlimited challenge durations. Ensure the minimum trading day requirement fits your natural trading frequency to avoid forced, suboptimal trades.
2. Calculate Your True Cost to Profitability
Look beyond the initial evaluation fee. Factor in the potential costs of multiple attempts, since most traders do not pass on the first try. Include all associated expenses such as platform fees, data costs, and reset charges to accurately compare the total investment required across different firms.
3. Verify Withdrawal Track Record
Conduct independent research on payout reliability. Check reviews on platforms like Trustpilot, Reddit, and trading forums for consistent patterns of praise or complaints regarding withdrawals. Pay attention to how firms respond to and resolve payment issues.
4. Test Rules Against Your Actual Trade History
Audit your past trading performance against a firm’s specific rules. Review your last 50-100 trades to see if your largest losses would violate daily or maximum drawdown limits. Confirm that your typical position sizes comply with the firm’s lot or contract limits.
5. Prioritize Rule Clarity Over Generous Splits
Select firms with explicitly documented and transparent trading guidelines. Avoid any with vague terminology like “reasonable trading” or rules subject to discretionary interpretation, as these can be used to disqualify you regardless of a high profit share percentage.
6. Evaluate Support Before You Pay
Proactively test the firm’s customer service before purchasing a challenge. Send pre-sales questions to gauge response time and quality. Explore available support channels like live chat, email, and community forums to assess their usefulness and the general sentiment among funded traders.
FAQs
- How difficult is it to pass a prop firm’s evaluation challenge?
Passing rates vary, but most traders do not succeed on their first attempt due to psychological pressure and strict risk limits. Firms like OneFunded report higher pass rates, often attributed to their no-pressure, unlimited-time evaluation structure.
- What are the most common reasons traders fail prop firm challenges?
The primary reasons are violating daily or maximum drawdown limits and failing to meet profit targets within the required minimum trading days. Emotional trading under time pressure and over-leveraging are also frequent causes of failure.
- Can I trade with multiple prop firms simultaneously?
Yes, most firms allow it, but you must manage separate accounts and adhere to each firm’s specific rules. However, ensure you can handle the psychological and operational complexity of juggling multiple evaluation criteria and risk limits.
- How quickly can I scale my account after getting funded?
Scaling policies vary. Some firms offer scaling plans based on consistent profitability, often increasing your capital by 25% to 50% after meeting specific profit milestones over a set period.
- Are profits from prop trading taxable?
Yes, payout profits are generally considered taxable income. However, tax treatment depends on your country of residence and the firm’s structure. It is advisable to consult with a local tax professional to understand your specific reporting obligations.
By Adedapo Adesanya
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that ExxonMobil and its partners have committed $1 billion to on-block activities for the Usan Infill project in oil mining lease (OML) 138, a development expected to add 40,000 barrels per day of oil production.
According to a statement by NUPRC spokesperson, Mr Eniola Akinkuotu, the managing director of ExxonMobil affiliates in Nigeria, Mr Jagir Baxir, announced the investment commitment at the ongoing 2026 NOG Energy Week Conference on Tuesday.
Mr Akinkuotu said the investment is expected to add 40,000 barrels per day as Nigeria seeks to attract new upstream investment and raise crude oil production through the development of offshore and onshore assets.
“Esso Exploration and Production is the operator of OML 138, which contains the Usan field. The block is operated under a Production Sharing Contract with NNPC Limited,” he said.
“Co-venture partners in OML 138 include Chevron, TotalEnergies, and Nexen, a wholly owned subsidiary of CNOOC.
“As a short-cycle investment, the project is expected to sustain and increase production from the Usan field, with first production within 18 months after the seismic data identified the investment opportunity.”
Also, the chief executive of NUPRC, Mrs Oritsemyiwa Eyesan, said the announcement was particularly important because Esso Exploration and Production Nigeria – ExxonMobil’s affiliate – had not undertaken any drilling operation since 2016.
“With Esso’s last drilling operation dating back to 2016, the resumption of drilling signals renewed potential and value in our deep water acreage,” she said, noting that her organisation remains steadfast in advancing Nigeria’s portfolio of deep water projects.
She noted that the projects are critical to meeting the country’s production targets, boosting oil and gas reserves, sustaining government revenue, and strengthening investor confidence.
According to the statement, the NUPRC presented petroleum prospecting licences (PPLs) from the successful conclusion of the 2022/2023 mini bid round and the Nigeria 2024 licensing round.
“Some of the companies that were presented with their awards at the venue include: Broron Energy Limited (PPL 2009), Petroli Energy Marketing and Supply Limited (PPL 269), Sahara Deepwater Resources Limited (PPL 270 and PPL 271) and Tulcan Energy E&P Co (PPL 2008),” NUPRC said.
The commission said execution ceremonies for companies whose representatives were absent would be held at later dates agreed upon by both parties.
According to the NUPRC, the exercise covers 12 successful awardees across 19 PPLs, spanning a balanced mix of deep offshore, shallow water and continental shelf acreages.
The commission said the portfolio reflects the wide range of investment opportunities offered through the licensing rounds.
NUPRC described the awards as another major milestone in Nigeria’s ongoing drive to attract investment into the upstream petroleum sector.
The commission added that the awards would help accelerate exploration activities, expand the country’s hydrocarbon reserves, and generate long-term value for the Nigerian economy.
By Adedapo Adesanya
The Nigerian National Petroleum Company (NNPC) Limited has announced the signing of six strategic agreements with key partners, ranging from Memorandum of Understanding (MoU), Gas Supply Agreement (GSA) and other gas transportation deals, marking a significant milestone in Nigeria’s journey towards industrial revitalisation and enhanced energy security.
The agreements, executed on the sidelines of the ongoing 25th NOG Energy Week in Abuja on Tuesday, include: an MoU with Ajaokuta Steel Company Limited, ASCL; a Gas Sale Aggregation Agreement with Ajaokuta Steel Company Limited; a GSA with UTM FLNG; a Network Entry Agreement with Chevron Nigeria Limited; a Network Entry Agreement with AGPC, and a Network Entry Agreement with NNPC Exploration & Production Limited.
According to the chief executive of the NNPC, Mr Bayo Ojulari, the agreements underscore the state oil company’s commitment to advancing the federal government’s gas-based industrialisation agenda, driving sustainable economic growth and enhancing Nigeria’s energy security.
“What we are witnessing today is not just about signing agreements. It is about igniting the engine of Nigeria’s industrialisation. Gas is the key. It is a source of revenue and profit. It is also the only product that can have that level of industrial impact on Nigeria, more than any other hydrocarbon,” Mr Ojulari stated.
He particularly described the agreements as a testament to NNPC’s shared commitment to transparency, efficiency, and a standardised framework for Nationwide gas utilisation, which will unlock new supply capacity for the domestic market and solidify the role of gas as a catalyst for economic transformation.
Mr Ojulari noted that the agreements signal a new era of strategic partnerships that will drive local content, enhance energy security and accelerate Nigeria’s journey towards becoming a global industrial powerhouse.
He described NNPC as the partner of choice. “We are on a journey, even as we look forward to greater collaboration with industry partners.”
A cornerstone of the signing ceremony was the agreement with Ajaokuta Steel Company Limited. In the MoU, NNPC and ASCL committed to extend collaboration beyond gas supply, aiming to catalyse the production of raw materials for oil and gas pipes, a critical enabler for major infrastructure projects such as the African- Atlantic Gas Pipeline and the Escravos -Lagos Pipeline System (ELPS).
The MoU is anchored on two major pillars: the revitalisation of the Ajaokuta Steel Complex and the expansion of domestic gas utilisation through the Nigerian Gas Transportation Network Code.
This was complemented by the execution of a 20-year Gas Sale and Aggregation Agreement between NNPC E&P Limited, Gas Aggregation Company of Nigeria Ltd/Gte and ASCL.
This agreement will see the supply of 3MMscf/d of Firm Contract Volumes and 47MMscf/d of Interruptible Contract Volumes to be used as feedstock for the power plant servicing the steel complex.
NNPC Ltd/Seplat JV also took a major step towards commercialising Nigeria’s vast natural gas resources by signing a 15-year Wet Gas Sale and Purchase Agreement WGSPA between the NNPC Ltd/Seplat Energy Producing Nigeria Unlimited Joint Venture and UTM FLNG Limited.
Under the agreement, the Joint Venture will supply 200 million standard cubic feet of gas per day (MMscf/d) to the UTM Floating LNG project, providing the long-term feedgas certainty required to support financing and position the project for a Final Investment Decision (FID) in the fourth quarter of 2026.
Further demonstrating its commitment to a regulated and efficient gas market, NNPC announced the successful migration of legacy interconnection agreements to the new Nigerian Gas Transportation Network Code. This involved the signing of Network Entry Agreements with three major gas producers.
These agreements, signed with Chevron Nigeria Limited, CNL, AGPC, and NEPL, will inject up to 800MMscf/d of natural gas into the domestic transportation network. This will serve Nigeria’s power plants, Gas-Based Industries (GBIs), and industrial clusters, significantly enhancing network connectivity and operational flexibility while improving the security of gas supply.
By Adedapo Adesanya
The International Monetary Fund (IMF) has retained Nigeria’s economic growth projections at 4.1 per cent for 2026 and 4.3 per cent for 2027, expressing confidence that ongoing macroeconomic reforms will continue to support the country’s recovery.
The projections, contained in the IMF’s July 2026 World Economic Outlook (WEO) Update titled “Global Economy in Crosscurrents of War and Technology”, remain unchanged from the forecasts released in April, despite mounting global uncertainties stemming from the conflict in the Middle East.
According to the report released yesterday, Nigeria’s growth outlook is being supported by improved macroeconomic stability and favourable terms of trade arising from its status as an oil-exporting nation.
However, the Bretton Woods institution warned that rising prices of essential goods could offset part of these gains by worsening poverty and food insecurity across the country.
The report stated that, “Nigeria is supported by improved macroeconomic stability and favourable terms of trade effects, though higher prices for essentials are expected to further aggravate poverty and food insecurity.”
Speaking during the IMF’s virtual briefing on the July 2026 World Economic Outlook Update for Sub-Saharan Africa and Nigeria, Division Chief in the IMF’s Research Department, Ms Deniz Igan, described Nigeria as one of the region’s stronger-performing large economies, noting that policy reforms have strengthened macroeconomic stability.
“Just to give you a sense, the two largest economies in the region, Nigeria is expected to grow at 4.1 per cent, quite stable, and this is supported by improved macroeconomic stability and favourable terms of trade, with Nigeria being an oil exporter,” Ms Igan said.
She, however, cautioned that inflationary pressures on essential commodities remain a major concern.
“At the same time, tighter prices, so there is some offset to that positive terms of trade effect because higher prices for essentials are expected to aggravate poverty and food insecurity,” she added.
The lender also retained Nigeria’s 2027 growth forecast at 4.3 per cent, as it noted that recent economic reforms are laying the foundation for sustained expansion despite persistent global headwinds.
For the global economy, the IMF projected growth to moderate to 3.0 per cent in 2026 from 3.5 per cent recorded in 2025, attributing the slowdown largely to the economic impact of the Middle East conflict, which is expected to offset part of the gains from the accelerating artificial intelligence-driven technology cycle.
For Sub-Saharan Africa, the IMF projected economic growth of 4.3 per cent in 2026 before improving to 4.5 per cent in 2027. The latest forecast represents a 0.1 percentage point upward revision from the Fund’s April outlook.
Ms Igan noted that the region had experienced broad-based economic recovery in 2025 before the outbreak of the Middle East conflict altered the growth trajectory.
“Let me start by noting that we actually had seen a broad-based pickup in growth in 2025 in the region. We had an acceleration of growth to 4.5 per cent.
“Now, the war obviously has clouded the outlook for 2026, and we are now projecting a softening of growth to 4.3 per cent in the region as a whole,” she said.
