July 3, 2025

IMF warns Nigeria of increased budget deficit as oil prices fall

IMF warns Nigeria of increased budget deficit as oil prices fall

The International Monetary Fund (IMF) expects the gulf between this year’s budgetary spending and revenue of Africa’s biggest oil producer to widen further in the face of geopolitical threats to the prices of crude, which contributes around two-thirds of government income. Oil has been hit by a mix of shocks since January, including Donald Trump’s […]

IMF warns Nigeria of increased budget deficit as oil prices fall Read More »

Lower Oil Prices: Reduce 2025 Budget,  IMF Urges Nigeria

Lower Oil Prices: Reduce 2025 Budget, IMF Urges Nigeria

The federal government has been advised to cut down its N54.99 trillion 2025 budget to reflect a less favourable oil price environment. The International Monetary Fund (IMF), which made this call, also warned that the country remained vulnerable to external shocks despite recent macroeconomic gains. In its latest Article IV Consultation with Nigeria, the IMF

Lower Oil Prices: Reduce 2025 Budget, IMF Urges Nigeria Read More »