IMF Urges Nigeria to Expand Cash Transfers as Food and Energy Costs Rise

The International Monetary Fund has urged Nigeria to strengthen targeted cash transfers for vulnerable households as food and energy prices continue to strain family budgets. An IMF official said temporary income support could reduce poverty and improve food security. The fund stressed that such measures should be paired with better public spending and stronger revenue collection to protect fiscal stability. The IMF noted that Nigeria’s economy has remained resilient partly because it is an energy exporter. However, many households are still facing persistent poverty and weaker purchasing power. The fund also called for stronger fiscal frameworks, resilient supply chains and carefully balanced monetary policies to manage future economic shocks.

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