Poverty risks persist despite Nigeria’s economic stability – IMF

The International Monetary Fund (IMF) has warned that rising prices of essential goods could worsen poverty and food insecurity in Nigeria, despite the country's macroeconomic stability and favourable external trade conditions. In its October 2026 World Economic Outlook report, titled "Resilience Under Strain, Urgent Choices," the IMF stated that higher prices for essentials are expected to further aggravate poverty and food insecurity.

Although Nigeria's recent economic stabilisation efforts have strengthened its economic outlook, the pressures facing households, particularly those struggling with the rising cost of food and other basic necessities, remain unaddressed. The IMF also highlighted that Nigeria is among the larger economies in sub-Saharan Africa benefiting from earlier stabilisation measures and economic reforms, but the region remains exposed to commodity price volatility, climate shocks, and limited access to external financing.

Brief written by urgent.news from Punch's own syndicated text. Machine-written — may contain errors; check the original before relying on it.