The leadership of the Senate is set to hold a high-level meeting with officials from the International Monetary Fund (IMF) to discuss Nigeria’s economic outlook and the ongoing reform programmes under President Bola Tinubu’sadministration.
The engagement is part of the IMF’s Article IV Consultation with Nigeria, a routine assessment of the country’s economic policies and financial stability. The meeting will provide lawmakers with insights into the government’s economic management framework and explore how the IMF could support the Federal Government’s reform agenda.
Deputy Senate President Barau Jibrin confirmed that the consultation will run from March 4 to March 17, 2026, during which the IMF team will hold discussions with key government institutions. The IMF specifically requested a high-level session with the Senate leadership as part of this process.
“The Federal Office of Finance wishes to inform the leadership of the Senate and distinguished senators that, at the instance of the Federal Government, the IMF Article IV Consultation in Nigeria has been scheduled to hold from March 4 to March 17, 2026,” the notice stated.
The meeting is expected to foster dialogue between lawmakers and IMF officials on Nigeria’s economic direction and reform priorities.
Economic Outlook and Growth Forecasts
Global financial institutions describe Nigeria’s 2025 economic performance as cautiously improving but still fragile. The IMF projected a growth of 3.4 per cent in 2025, reflecting gradual recovery, particularly in non-oil sectors, despite challenges such as high inflation, fiscal pressures, and infrastructure bottlenecks. The World Bank similarly forecast average growth of around 3.6 per cent between 2025 and 2026, citing reforms like fuel subsidy removal, exchange-rate unification, and tighter monetary policy as positive steps toward stabilising the economy.
Looking ahead to 2026, both the IMF and the World Bank have revised Nigeria’s growth forecasts upward to about 4.4 per cent, the potential fastest pace in over a decade. This anticipated expansion is expected to be driven by services, agriculture, and non-oil industries, reflecting optimism that ongoing fiscal and monetary reforms will strengthen macroeconomic stability and productivity.
The Senate-IMF dialogue is seen as a strategic step to ensure lawmakers are fully briefed on the country’s economic trajectory and can support the government’s reform initiatives.
