By Muhammad Mamman
The International Monetary Fund (IMF) has upgraded its growth forecast for Nigeria to 4.4 per cent in 2026, citing improving macroeconomic conditions and sustained reform momentum.
In its latest assessment, the IMF said policy adjustments undertaken by the Nigerian authorities are beginning to yield positive results, particularly in stabilising the economy and strengthening investor confidence. The Fund pointed to reforms in the foreign exchange market, fiscal management and the financial sector as key drivers of the improved outlook.
According to the IMF, tighter monetary policy and steps to enhance revenue mobilisation have helped to address longstanding macroeconomic imbalances, while easing pressures on external reserves. It also noted early signs of recovery in key sectors of the economy, supported by better policy coordination and improved market sentiment.
The Fund cautioned, however, that risks remain, including inflationary pressures, global economic uncertainty and security challenges. It stressed the need for sustained commitment to reforms, improved social protection measures and continued efforts to boost productivity and private sector-led growth.
The upgraded projection places Nigeria among the faster-growing economies in the region, reinforcing expectations that ongoing reforms, if maintained, could put Africa’s largest economy on a firmer and more resilient growth path in the medium term.
