The IMF endorsed the Central Bank of Nigeria's decision to adjust its monetary policy stance, saying inflation progress allowed a reduction in the real interest-rate burden, though conditions remain tight and this is not yet monetary easing. The Fund urged the government to mobilise more non-oil revenue, deepen structural reforms to attract private investment and create jobs, and direct savings from subsidy reforms to vulnerable Nigerians. It upgraded Nigeria's 2026 growth forecast to 4.2% from 4.0% last year, with 4.3% projected for next year, citing higher oil prices that boosted foreign exchange receipts and services as the main driver of domestic expansion. The IMF also warned against relying on oil revenue to finance development, noting that exchange-rate reforms and petrol subsidy removal have raised living costs for households.
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