•Balance of power is changing, says Elon Musk
Ndubuisi Francis and James Emejo, in Abuja
A new report from the International Monetary Fund (IMF) has listed 10 countries, including India and Nigeria, among the top contributors to global economic growth for 2026.
This is consistent with the world’s richest man, Elon Musk, declaring yesterday that “the balance of power is changing.”
While the IMF data placed Nigeria at number six with a projected 1.5 per cent real GDP growth, India was ranked ahead of the United States of America as number two, with 17 per cent growth.
According to the IMF data, Nigeria is projected to contribute 1.5 per cent to global real GDP growth in 2026, thus placing one of Africa’s leading economies ahead of several advanced and emerging economies, including Germany, Brazil, and Indonesia.
Nigeria’s 1.5 per cent share exceeds most European nations combined.
China is expected to remain the largest contributor to global growth, accounting for 26.6 per cent, followed by India with 17.0 per cent.
The United States ranks third at 9.9 per cent.
Together, China and India are projected to account for 43.6 per cent of global economic growth in 2026.
Other countries in the top 10 include: Indonesia at 3.8 per cent, Türkiye at 2.2 per cent, Saudi Arabia at 1.7 per cent, Vietnam at 1.6 per cent, Brazil at 1.5 per cent, and Germany at 0.9 per cent.
The IMF data also highlighted the dominance of the Asia-Pacific region, which is expected to account for nearly 50 per cent of global economic growth, reflecting continued momentum across the region.
Reacting to the latest IMF data, Elon Musk wrote on his official account that “The balance of power is changing,” and shared
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