Naira Stabilizes Near ₦1,374/$ as IMF Revises Nigeria 2026 Growth Forecast to 4.1%

The naira held near ₦1,374 per dollar at the official CBN window in early May 2026, with daily volatility dropping to approximately 0.5% from over 4% in 2024, signaling a period of relative stability following two years of historic devaluation. Following IMF/World Bank Spring Meetings, the IMF revised Nigeria's 2026 GDP growth forecast upward to 4.1%, citing the Tinubu government's ongoing reforms including banking sector recapitalization that raised ₦4.65 trillion. Nigeria simultaneously rejected a fresh IMF bailout, with officials insisting domestic reforms are on track.