The Federal Government has said it will pursue cheaper funding and stronger financial support at the upcoming IMF/World Bank Spring Meetings 2026 amid growing global economic uncertainty.

This was disclosed in a statement issued by Ogho Okiti, Special Adviser on Media and Communications to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

According to the government, Nigeria is facing economic pressure from the ongoing geopolitical tensions involving the United States, Israel, and Iran, which have disrupted global energy markets and increased inflationary pressures.

The government said one of its key objectives at the meeting is to secure lower-cost financing for Nigeria and other developing countries, as well as advocate for fairer global financial conditions.

It also plans to seek additional support for economies dealing with both internal reforms and external shocks.

The statement noted that rising crude oil prices, with Nigeria’s Bonny Light crude climbing above $110 per barrel, could boost revenue, but higher domestic fuel costs are offsetting the gains.

Petrol prices have risen by over 50 per cent, while diesel prices surged by more than 70 per cent, increasing the cost of living and doing business.

The government identified rising energy prices, weakening capital inflows, and higher import and logistics costs as key channels through which the crisis is affecting the economy.

Despite these challenges, it maintained that Nigeria is in a stronger position due to recent reforms such as foreign exchange liberalisation and subsidy removal.

It added that oil production has improved, and policies such as the naira-for-crude initiative are helping stabilise supply.

At the meetings, Edun is expected to engage global financial institutions, investors, and development partners to strengthen Nigeria’s economic position and attract investment.

The government reaffirmed its commitment to maintaining macroeconomic stability, boosting investor confidence, and driving inclusive economic growth.