IMF Lowers Nigeria’s 2026 Growth Forecast to 4.1% as Fuel and Shipping Costs Rise

The IMF now expects Nigeria’s economy to expand by just 4.1% in 2026, down from its earlier 4.4% forecast. Higher fuel, fertilizer and shipping bills are weighing on non-oil sectors. Global conflicts and tighter aid to developing countries have added to the pressure. Inflation stands at about 15.1%, and the Central Bank keeps its benchmark rate at 26.5% to rein in prices. The IMF says continued tight monetary policy is needed. On the world stage, growth is set to slow from 3.4% in 2025 to 3.1% in 2026. Major economies will see muted expansion, while India leads at roughly 6.5%. Sub-Saharan Africa should recover in 2027.

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