IMF Sees Nigeria Fiscal Deficit Widening on Lower Oil Income

Nigerian economic reforms have improved investor sentiment but the nation’s finances are being hurt by lower oil prices that will widen its budget gap this year, said the International Monetary Fund.

Africa’s biggest crude producer could see its fiscal deficit reach 4.7% of gross domestic product in 2025 from 4.1% in 2024, according to IMF staff projections released on Wednesday.