“Reforms Have Strengthened Nigeria’s Economy, But 63% of Citizens Live in Poverty” — IMF
The International Monetary Fund (IMF) has said economic reforms introduced by President Bola Tinubu’s administration have improved Nigeria’s macroeconomic stability, but warned that poverty remains a major challenge.
In its latest review of the Nigerian economy, the IMF noted that more than 60 percent of Nigerians were living in poverty by the end of 2025, while over 27 million people faced food insecurity.
“Strong reforms over the past three years have yielded improved macroeconomic outcomes and built resilience. Still, conditions for many Nigerians remain difficult,” the IMF stated.
The Fund acknowledged key reforms such as the removal of fuel subsidies, exchange rate liberalisation, and tax reforms, describing them as measures that have strengthened the economy.
However, it warned that rising food, fuel, and fertiliser costs continue to put pressure on households, with inflation reaching 15.7 percent in April. The IMF also highlighted insecurity, particularly in food-producing regions, as a significant threat to economic activity and living standards.
Despite these challenges, Nigeria’s economy is projected to grow by 4.1 percent in 2026, up from 4 percent in 2025.
