The International Monetary Fund (IMF) has advised Nigeria to revise its 2025 national budget due to falling oil prices. The current budget is based on a benchmark of $75 per barrel, while oil has traded around $68 in recent weeks. With oil revenues being Nigeria’s primary income source, the shortfall could have significant economic implications.

The IMF urged fiscal reforms, improved tax collection, and better-targeted cash transfer programs to cushion the impact on vulnerable populations.

They also warned that Nigeria’s high debt-servicing obligations taking up more than 60% of revenues could worsen unless immediate adjustments are made.

This call by the IMF signals urgent action for Nigeria to remain fiscally stable and socially responsive in the face of volatile global oil dynamics.