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FG denies spending ₦8trn outside approved budget, faults IMF claim

The Federal Government has dismissed claims that it spent over N8 trillion outside the approved budget, describing the allegation as false and a misrepresentation of the 2026 Article IV Consultation Report by the International Monetary Fund. The government said reports suggesting that about two per cent of Nigeria’s Gross Domestic Product, was expended outside the […]

Finance

Nigeria omitted 2% GDP spending from budgets — IMF

Nigeria failed to record public spending equivalent to about 2 per cent of its Gross Domestic Product in recent official budgets, creating a gap between the country’s reported fiscal deficit and its actual financing needs, according to the International Monetary Fund. The disclosure was made on Wednesday by the IMF Resident Representative in Nigeria, Christian […]

Finance

IMF warns stablecoins could weaken naira’s monetary policy

The International Monetary Fund has warned that the growing use of United States dollar-denominated stablecoins in Nigeria could weaken demand for the naira and reduce the effectiveness of the country’s monetary policy framework. Nairametrics reported that the warning was contained in a report titled “Stablecoins in Nigeria: A Growing Cross-Border Channel,” which examined the rapid […]

Business

IMF urges Nigeria to tax telecom services, extend vAT to fuel

The International Monetary Fund has urged Nigeria to introduce excise duties on telecommunications services and expand Value Added Tax coverage to fuel products as part of efforts to boost government revenue and strengthen public finances. The recommendation was contained in the IMF’s latest Article IV Consultation Report on Nigeria, which highlighted the need for additional […]

Business

IMF urges stronger crypto regulation in Nigeria to enhance stability

The International Monetary Fund has urged Nigeria to incorporate stablecoins and other crypto-asset activities into its regulatory framework. The recommendation is part of wider measures designed to strengthen financial stability and protect recent macroeconomic improvements. This was stated in the IMF’s latest Article IV Consultation report on Nigeria, which was concluded by its Executive Board […]

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IMF projects Nigeria’s external debt to hit $72.6bn by 2027

Nigeria’s public external debt is projected to rise by $20.7bn by 2027, the country’s election year, according to the International Monetary Fund. The IMF disclosed this in its 2026 Article IV Consultation report on Nigeria released on Tuesday, projecting that public external debt would increase from $51.9bn in 2025 to $72.6bn by 2027. The projected […]

Economy

Nigeria’s economy stronger but poverty worsened, IMF warns

The International Monetary Fund said Tuesday that reforms implemented by the Nigerian government had strengthened the country’s economy, but warned that more than 60 per cent of Nigerians now live in poverty. Since taking office just over three years ago, President Bola Tinubu has removed a costly fuel subsidy that had kept petrol prices artificially […]

Opinion

IMF warns of rising fiscal deficits in Africa despite oil gains

Sub-Saharan Africa’s fiscal position is expected to weaken in 2026, even as improved commodity prices offer some relief to external balances across parts of the region. According to Nairametrics, this was contained in the International Monetary Fund’s April 2026 Regional Economic Outlook titled “Hard-Won Gains Under Pressure.” The Fund projects that the median fiscal deficit […]

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FG rules out borrowing from IMF’s $50bn Africa aid

The Federal Government on Thursday declared that it has no plan to approach the International Monetary Fund to borrow from the estimated $50bn, which the IMF had earlier announced on Wednesday that it plans to use to support struggling economies in Africa. The PUNCH reported that the Minister of Finance and Coordinating Minister for the […]

Economy

IMF forecasts Nigeria’s debt ratio drop to 32.3% in 2026

The International Monetary Fund projects Nigeria’s debt-to-GDP ratio will decline to 32.3 per cent in 2026, from 35.5 per cent in 2025, before rising slightly to 33.1 per cent in 2027. The fund disclosed this in its Fiscal Monitor report released on Wednesday at the ongoing IMF/World Bank Spring Meetings in Washington, D.C., pointing to […]

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