MIDDLE EAST CRISIS: IMF cuts growth forecast for Nigeria’s economy to 4.1%

The International Monetary Fund (IMF) has lowered its growth forecast for Nigeria’s economy to 4.1% in 2026, citing higher fuel and fertilizer prices and increased shipping costs due to the Middle East crisis. This forecast is 0.3 percentage points lower than the 4.4% projected in January. The IMF also cut its global growth forecast, projecting a decline to 3.1% in 2026 as war-induced disruptions affect economic momentum.