The World Bank and the International Monetary Fund (IMF) have called for decisive measures to further reduce inflation in Nigeria, warning that sustained price pressures could undermine recent macroeconomic gains and delay improvements in household welfare.
The call was made on Wednesday in Lagos by the World Bank’s Senior Economist for Nigeria, Dr. Samer Matta, and Nigeria’s IMF Country Representative, Dr. Christian Ebeke, while speaking as panelists at the presentation of the Nigerian Economic Summit Group (NESG) 2026 Macroeconomic Outlook.
While acknowledging that Nigeria is recording notable macroeconomic improvements driven by ongoing reforms, the global lenders stressed that inflation remains elevated and continues to erode the real benefits of economic growth for citizens.
The NESG report, themed “Consolidating Economic Stabilisation Gains: Pathway to Sustainable Growth in Nigeria,” projected a 5.5 per cent gross domestic product (GDP) growth, reflecting optimism about the country’s medium-term economic prospects if reforms are sustained.
On Tuesday, the World Bank revised Nigeria’s economic growth projection for 2026 upward to 4.4 per cent from the 3.7 per cent forecast in June 2025. The institution also upgraded its 2027 growth estimate to 4.4 per cent from an earlier projection of 3.8 per cent.
Speaking at the event, IMF’s Ebeke cautioned against premature celebration of recent economic improvements.
“Nigeria is at risk of being very complacent and believing that the job is done,” he warned, stressing that sustained policy discipline is required to lock in gains and ensure inclusive growth.
The panelists agreed that while reforms have begun to stabilise key macroeconomic indicators, taming inflation remains critical to translating growth into better living standards, reduced poverty, and stronger consumer confidence.
They emphasised the need for consistent fiscal and monetary coordination, structural reforms, and targeted social interventions to ensure that economic stabilisation leads to sustainable and broad-based growth.
