Nigeria’s fiscal outlook for 2025 is under serious threat, according to the International Monetary Fund, which has warned that the country must urgently revise its budget targets or face a deepening financial crisis.
The IMF’s latest Article IV consultation report, released on Wednesday, points to a significant risk of Nigeria exceeding its fiscal deficit projections for the year, driven by a combination of falling oil prices, lower production levels, and challenges in capital expenditure execution.
It called on the Nigerian authorities to take immediate action to recalibrate the country’s fiscal policies and budget expectations to reflect the current economic realities.