…signals tax rate increases likely needed beyond 2026
…backs CBN’s tight monetary stance until disinflation is entrenched and inflation expectations anchored
…urges tighter crypto oversight while flagging rising banking risks
Nigeria has made significant progress in restoring macroeconomic stability over the past three years, but millions of its citizens continue to face acute hardship, with poverty and food insecurity remaining elevated despite improving external and fiscal buffers, the International Monetary Fund (IMF) has said.
In its 2026 Article IV consultation released Tuesday, the Fund said policy reforms—including the removal of fuel subsidies, tighter monetary conditions, exchange rate liberalisation, and efforts to reduce deficit monetisation—had strengthened macroeconomic resilience and helped rebuild investor confidence.
Nigeria has also regained access to international capital markets, while external buffers have improved notably.
However, the IMF stressed that these gains have yet to translate into broad-based improvements in living standards.
“Still, conditions for many Nigerians remain difficult,” the Fund
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