The IMF warned Nigerians face tougher near-term conditions from rising food and transport costs, even as the country's oil grades trade above $113 per barrel.

Finance Minister Olawale Edun on Tuesday warned against subsidy reversals at the World Bank/IMF Spring Meetings in Washington, urging developing nations to hold reform gains as global shocks intensify pressure to abandon hard-won policy progress.

The International Monetary Fund cut Nigeria's 2026 growth forecast to 4.1 percent, down from 4.4 percent, citing higher commodity costs and shipping disruptions.

The IMF says illicit financial flows are worsening Nigeria’s revenue crisis as it pledges renewed support to track illegal fund movements.