IMF Reports Economic Growth Amid Rising Poverty Risks in Nigeria

The International Monetary Fund (IMF) has issued a warning regarding the persistent risks of poverty in Nigeria, despite the country's economic stability. In its October 2026 World Economic Outlook report titled ‘Resilience Under Strain, Urgent Choices’, published on October 13, 2026, the IMF highlighted that rising prices of essential goods could worsen poverty and food insecurity.

The report indicates that while Nigeria has seen improvements in macroeconomic stability and favorable external trade conditions, these do not automatically translate into better living conditions for vulnerable households. The IMF projects Nigeria's economy will expand by 4.2 percent in 2026, an increase from an estimated 4.0 percent in 2025.

Additionally, average consumer price inflation in Nigeria is expected to decline from 23.0 percent in 2025 to 15.6 percent in 2026. The report also notes that Nigeria benefits from earlier stabilization measures and economic reforms, yet faces challenges such as commodity price volatility and limited access to external financing.