June 09, (THEWILL) — Despite signs of improving macroeconomic stability, the International Monetary Fund (IMF) says many Nigerians continue to face significant economic hardship as high prices and cost-of-living pressures weigh on households.
In its latest assessment of the Nigerian economy, the Fund acknowledged that ongoing reforms have helped strengthen macroeconomic fundamentals, including improved foreign exchange market stability and stronger external reserves. However, it noted that the benefits of these reforms have yet to fully translate into improved living conditions for many citizens.
The IMF projected Nigeria’s economy to grow by 4 percent in 2025 and 4.1 percent in 2026, supported by policy reforms and improving economic conditions. However, the Fund warned that inflation and rising living costs remain major challenges to inclusive growth.
Recent data from the National Bureau of Statistics showed headline inflation rose to 15.69 percent year-on-year in April 2026, underscoring the continued pressure on household incomes despite signs of economic stabilisation.
According to the IMF, sustaining growth will require policies that not only preserve macroeconomic stability but also improve social outcomes, create jobs and support vulnerable households. The Fund noted that while reform measures are beginning to strengthen confidence in the economy, many Nigerians are yet to feel the full benefits in their daily lives.
The assessment comes as Nigeria continues to implement fiscal, monetary and foreign exchange reforms aimed at boosting investment, strengthening public finances and supporting long-term economic growth. While economic indicators have shown gradual improvement, inflationary pressures and high living costs remain key concerns for households and businesses across the country.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
