The International Monetary Fund (IMF) has called for reforms in Nigeria’s banking sector, warning that structural imbalances are weakening the effectiveness of monetary policy and limiting the impact of any future interest rate cuts. In its June 2026 report, Nigeria: Selected Issues, the IMF noted that commercial banks respond quickly to increases in the Central…
Nigeria’s Minister of Finance, Wale Edun, has stated that the country does not currently plan to seek financial assistance from the International Monetary Fund (IMF). He made this known during a briefing of African finance ministers at the IMF and World Bank Annual Meetings held in Washington, D.C. According to Edun, Nigeria’s ongoing economic reforms…
US Treasury Secretary Scott Bessent has expressed renewed support for the International Monetary Fund (IMF) and the World Bank, describing their current direction as “constructive.” Speaking on the sidelines of the Spring Meetings in Washington, Bessent noted that both institutions are now making progress and returning to their core mandates after facing criticism in the…
The International Monetary Fund (IMF) has revised Nigeria’s 2026 economic growth forecast downward to 4.1 percent, citing the ongoing Middle East conflict and its ripple effects on global energy and supply chains. The announcement was made during the IMF and World Bank Spring Meetings in Washington, D.C., where officials warned that rising fuel, shipping, and…
The International Monetary Fund has warned that the ongoing conflict involving Iran could trigger a rise in global inflation, particularly if energy prices remain elevated. IMF spokesperson Julie Kozack said the organisation is closely monitoring the economic impact of the crisis, noting that prolonged high oil prices could significantly affect global economies. According to her, if crude oil prices stay above…
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…
The International Monetary Fund (IMF) has revised Nigeria’s economic growth forecast for 2026, raising it to 4.4% from the previous projection of 4.2%. The updated outlook was published in the IMF’s January 2026 update of the World Economic Outlook and unveiled on Monday, signaling improved expectations for the country’s economic performance in the coming year….
The International Monetary Fund (IMF) has expressed support for Nigeria’s December 2025 inflation figures and praised the National Bureau of Statistics (NBS) for revising its inflation measurement methodology, noting that the changes align with international best practices and promote macroeconomic stability. In a statement released on Thursday on behalf of the IMF Resident Representative for…
The Federal government and the International Monetary Fund IMF have confirmed that Nigeria has completely paid off 3.4 billion borrowed during the COVID-19 pandemic. Finance Minister Wale Edun and the IMF office in Washington have confirmed that Nigeria is no longer listed among the countries indebted to the international lender. IMF resident representative for Nigeria,…
