The International Monetary Fund (IMF) has urged Nigeria to strengthen revenue collection, improve governance and attract private investment to boost economic growth, create jobs and ease pressure on public finances.
Zeine Zeidane, Director of the IMF’s African Department, gave the advice during a briefing on Sub-Saharan Africa’s economic outlook at the IMF/World Bank Annual Meetings in Bangkok, Thailand.
He said Nigeria should use the gains from ongoing economic reforms to increase funding for education, healthcare and infrastructure while improving conditions for businesses and investors.
The IMF has raised Nigeria’s 2026 economic growth forecast to 4.2 percent, citing improved macroeconomic stability and favorable external conditions. However, it warned that rising prices of essential goods could worsen poverty and food insecurity.
The Fund also advised the government to direct savings from subsidy reforms towards poor and vulnerable households through targeted social protection programs rather than broad-based subsidies.
It added that stronger debt transparency, deeper domestic capital markets and sustained reforms would help Nigeria diversify its financing sources and translate economic growth into better living conditions and more jobs.
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