Elon Musk Flags Shifting Global Power as Nigeria Ranks Sixth in IMF GDP Growth Outlook

Billionaire entrepreneur Elon Musk has drawn fresh attention to changing global economic dynamics after Nigeria emerged among the top contributors to global GDP growth in the International Monetary Fund’s (IMF) 2026 projections.

In its latest outlook, the IMF listed Nigeria sixth among the world’s top 10 contributors to global real GDP growth in 2026, with a projected contribution of 1.5 per cent. Reacting to the data, Musk wrote on his official account that “the balance of power is changing,” underscoring a broader shift toward emerging markets.

According to the IMF, China is expected to remain the world’s largest driver of growth, accounting for 26.6 per cent of global expansion, followed by India at 17 per cent. Combined, the two Asian economies are projected to deliver 43.6 per cent of global GDP growth in 2026, reinforcing Asia’s growing economic dominance.

Nigeria’s ranking places Africa’s largest economy ahead of several advanced and emerging peers, including Germany, Brazil, and Indonesia. The IMF data shows Nigeria outperforming most European economies individually, with Germany projected to contribute just 0.9 per cent to global growth.

Other countries in the top 10 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). Overall, the Asia-Pacific region is expected to account for nearly half of global economic growth in 2026.

Analysts say Musk’s comments reflect more than passing interest. With advanced economies forecast to grow just 1.8 per cent, compared with 4.2 per cent for emerging markets, global economic momentum is increasingly shifting outside the West—a trend that is reshaping investment priorities and geopolitical influence.