IMF Warns Soaring Prices Could Deepen Poverty and Food Insecurity in Nigeria

The IMF has kept Nigeria’s 2026 growth forecast at 4.1% while warning that rising prices of essential goods may aggravate poverty and food insecurity across the country. It expects GDP growth to inch up to 4.3% in 2027, with sub-Saharan Africa also stable at 4.3% in 2026 and 4.5% in 2027. The update reflects improved macroeconomic stability and favorable trade terms but highlights the strain of higher energy and food costs. The report urges governments to rebuild fiscal buffers through stronger revenue collection, more efficient public spending and targeted social protection. It also calls for structural reforms to boost productivity, expand infrastructure and strengthen labour markets for sustainable growth.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.