CBN’s rate cut appropriate, monetary stance still tight — IMF

The International Monetary Fund has endorsed the Central Bank of Nigeria's decision to adjust its monetary policy stance, saying the move was appropriate given significant progress in reducing inflation, even as monetary conditions remain tight. Speaking at a press briefing on the Regional Economic Outlook for Sub-Saharan Africa, October 2026, during the IMF/World Bank Annual Meetings in Bangkok, Thailand, Director of the African Department Zeine Zeidane commented on Nigeria's situation. The Fund urged the Federal Government to mobilise more revenue from non-oil sources, deepen structural reforms to attract private investment and create jobs, and channel savings from subsidy reforms towards vulnerable Nigerians. It also warned against relying solely on oil revenues to finance development.

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