IMF: Poverty Remains High in Nigeria Despite Economic Growth
. Raises country’s 2026 growth forecast to 4.2%, retains 4.3% for 2027 Nume Ekeghe in Bangkok, Thailand The International Monetary Fund (IMF) on Tuesday said despite Nigeria’s economic growth holding
The International Monetary Fund (IMF) has reported that poverty remains a significant issue in Nigeria despite the country's economic growth. In a statement released at the IMF's 2026 World Economic Outlook in Bangkok, Thailand, the organization highlighted that the population continues to suffer from poverty. The IMF has raised Nigeria's 2026 growth forecast to 4.2%, while maintaining its 2027 projection at 4.3%.
The issue of poverty has been exacerbated by the disproportionate increase in food and energy prices, which has intensified the cost-of-living crisis. The IMF has urged the Nigerian government to provide targeted, temporary support to vulnerable households to address this pressing issue. Research Department Division Chief Deniz Igan emphasized the need for policymakers to balance the immediate needs of households, particularly food and energy security, with maintaining medium-term economic stability.
The IMF's projections were presented in their 2026 World Economic Outlook titled "Resilience Under Strain, Urgent Choices." The report, released during the ongoing Annual Meetings in Bangkok, Thailand, aims to guide policymakers in making urgent decisions to address the country's economic challenges.
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