#GDP

Nigerians are expressing their views on social media following allegations from the International Monetary Fund (IMF) that the Federal Government did not account for public spending amounting to approximately N8.8 trillion, which is about 2% of the country's Gross Domestic Product (GDP), in recent official budgets. This disclosure has ignited a debate regarding transparency in government financial reporting.

Atiku Abubakar, the presidential candidate of the African Democratic Congress (ADC), has called on the Nigerian federal government to clarify the whereabouts of what he terms the 'missing' two percent of the country's GDP, following a disclosure from the International Monetary Fund (IMF).

Uganda aims to achieve a 20% tax-to-GDP ratio by 2030, marking one of its most ambitious fiscal targets in decades. This goal is part of a new strategy developed by the Ministry of Finance, Planning and Economic Development (MOFPED) in collaboration with the Uganda Revenue Authority (URA).

Tanzania's mining revenue reached TZS 1.394 trillion (approximately USD 558 million) in the 2025/26 financial year, exceeding the target of TZS 1.2 trillion by 16.13%. This figure represents a 30.2% increase from the previous year's revenue of TZS 1.071 trillion. The mining sector's contribution to GDP averaged 11.9% in 2025, with mineral exports rising by 31.1% to USD 5.4 billion.

Nedbank announced a downgrade to its 2026 domestic economic output outlook, attributing this change to a mixed economic environment observed in the first five months of the year. The bank also indicated that the central bank is expected to maintain current interest rates in response to rising inflation.

Tanzania aims for a technology-driven economy with a target of a one trillion US dollar GDP. However, the technology sector currently contributes only 1.5% to the country's GDP, raising questions about its readiness for such an economic transition, according to Nukta Africa.

The Central Bank of Tanzania has projected a GDP growth of 6.3% for 2026 and 6.6% for 2027, driven by public and private investments as well as exports. According to its latest Monetary Policy Statement for 2026/27, key sectors contributing to this growth include agriculture, mining, tourism, and construction. Inflation is expected to rise but will remain within the target range of 3-5%.