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Nigeria: 2026 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Nigeria

1. Sustained reforms since 2023 have strengthened macroeconomic stability (Annex I).1 Ending fuel subsidies and deficit monetization, tightening monetary policy, coupled with the liberalization of the exchange rate, have reduced fiscal vulnerabilities, rebuilt external buffers, and improved fx market functioning. Portfolio inflows have resumed, and Nigeria again accessed external markets. Nigeria was removed from the Financial Action Task Force (FATF) “grey list” in October 2025, and from the European Union’s list of third countries having strategic deficiencies in their AML/CFT frameworks in …

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