JUST IN: Nigeria’s Economic Outlook Improves as IMF Lifts 2026 Growth Forecast to 4.4% - Newstrends
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JUST IN: Nigeria’s Economic Outlook Improves as IMF Lifts 2026 Growth Forecast to 4.4%

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International Monetary Fund (IMF)

JUST IN: Nigeria’s Economic Outlook Improves as IMF Lifts 2026 Growth Forecast to 4.4%

The International Monetary Fund (IMF) has revised Nigeria’s 2026 economic growth forecast upward to 4.4%, signaling renewed confidence in the country’s macroeconomic recovery and ongoing economic reforms. The upgrade reflects improved outlooks for fiscal stability, foreign exchange management, and oil sector performance.

According to the IMF’s latest assessment, Nigeria’s growth momentum is being supported by policy adjustments, better revenue mobilisation, gradual exchange-rate stability, and expectations of higher crude oil output. The new projection represents a notable improvement on earlier forecasts and places Nigeria among the faster-growing economies in Sub-Saharan Africa.

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The IMF’s optimism aligns with recent positive signals from other international institutions, including the World Bank, which has also pointed to moderate recovery prospects despite persistent challenges such as inflation, unemployment, and infrastructure deficits. Analysts note that sustaining the projected growth will depend on continued reforms, economic diversification beyond oil, and stronger private-sector participation.

The revised forecast comes amid broader signs of stabilization in Nigeria’s economy, with policymakers expressing hope that improved growth will translate into job creation, increased investment inflows, and better living standards in the coming years.

JUST IN: Nigeria’s Economic Outlook Improves as IMF Lifts 2026 Growth Forecast to 4.4%

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Kwankwasiyya Urges US Congress to Drop Kwankwaso’s Name from Bill

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Rabiu Musa Kwankwaso
Former Kano State governor and NNPP leader, Rabiu Musa Kwankwaso

Kwankwasiyya Urges US Congress to Drop Kwankwaso’s Name from Bill

The Kwankwasiyya movement has called on the United States Congress to remove the name of former Kano State governor and NNPP leader, Rabiu Musa Kwankwaso, from a proposed legislative bill currently under consideration.

In a strongly worded statement, leaders of the Kwankwasiyya movement described the inclusion of Kwankwaso’s name in the proposed US bill as “misleading and politically motivated,” insisting that the former presidential candidate has no connection to the issues referenced in the draft legislation.

The group said linking Kwankwaso to the bill could create diplomatic misunderstandings and damage his international reputation.

“We urge the United States Congress to immediately remove the name of Rabiu Musa Kwankwaso from the proposed bill. He has no involvement whatsoever in the matters cited, and such reference is unfair and unjustified,” the statement read.

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The movement further argued that Kwankwaso, who contested the 2023 presidential election under the New Nigeria Peoples Party (NNPP), has consistently promoted democratic values, peaceful political engagement, and national development.

According to the group, associating him with any controversial legislative move abroad amounts to political mischief and an attempt to tarnish his image ahead of future political activities.

The Kwankwasiyya movement also called on diplomatic channels to clarify the matter and prevent what it described as the internationalisation of domestic political disagreements.

As of the time of filing this report, there has been no official response from the US Congress regarding the demand, nor has the full content of the proposed bill been publicly detailed.

Kwankwaso remains a prominent political figure in Nigeria and leader of the Kwankwasiyya movement, with a strong support base particularly in Kano and parts of northern Nigeria.

Kwankwasiyya Urges US Congress to Drop Kwankwaso’s Name from Bill

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Drama at NASS as Works Minister, Oshiomhole Clash During Budget Defence

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Senator David Umahi and Senator Adams Oshiomhole
Senator David Umahi and Senator Adams Oshiomhole

Drama at NASS as Works Minister, Oshiomhole Clash During Budget Defence

Tempers flared at the National Assembly on Wednesday as Minister of Works, David Umahi, clashed with Senator Adams Oshiomhole during the defence of the Federal Ministry of Works’ 2026 budget proposal, turning what was expected to be a routine legislative exercise into a heated confrontation.

The dramatic exchange occurred before the Joint Senate and House of Representatives Committees on Works, where Umahi appeared to defend the ministry’s multi-trillion naira allocation for the 2026 fiscal year. Lawmakers had raised concerns over road contracts, funding gaps, and the prioritisation of major infrastructure projects across the country.

In a video that has since gone viral, Umahi was seen confronting Oshiomhole after the Edo North senator questioned aspects of the ministry’s spending and contract decisions.

“You can’t use foul language on me. I’m a distinguished Nigerian,” Umahi fired back during the tense exchange.

The clash reportedly stemmed from scrutiny over the handling of major federal road projects, including the strategic Abuja–Kaduna–Zaria–Kano highway, as well as broader issues of procurement transparency and value for money.

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The 2026 proposal presented by the ministry includes significant allocations for the completion of ongoing federal highways and legacy infrastructure projects. Umahi disclosed that the Federal Government currently owes contractors trillions of naira for certified works executed in previous years, a situation he said has slowed the pace of delivery on some projects.

As the exchange escalated, Senator Rufai Sani Hanga (Kano Central) cautioned the minister over his choice of words.

According to him, “You are just two months Senator, Mr Umahi,” in a remark that further heightened tension in the chamber.

The session briefly descended into disorder as lawmakers exchanged words over procedural issues and speaking rights, prompting senior members of the committee to intervene and restore order.

In defending his stewardship of the ministry, Umahi maintained that the 2026 Works budget is designed to accelerate the rehabilitation and reconstruction of critical road corridors nationwide. He also challenged lawmakers to personally inspect ongoing projects, insisting that the quality of work would justify the allocations.

The confrontation highlights growing pressure on the Ministry of Works over road infrastructure funding, contract awards, and accountability in project execution, particularly as Nigeria grapples with fiscal constraints and mounting public expectations.

Despite the heated exchanges, Oshiomhole was eventually allowed to continue his contribution to the budget debate, and proceedings moved forward after interventions from other lawmakers.

The incident underscores the intensity of legislative oversight surrounding the 2026 federal budget, especially in sectors with heavy capital expenditure such as works and infrastructure.

Drama at NASS as Works Minister, Oshiomhole Clash During Budget Defence

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Tinubu Nominates Ismail Abba Yusuf as NAHCON Chairman, Seeks Senate Confirmation

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Ambassador Ismail Abba Yusuf
Ambassador Ismail Abba Yusuf

Tinubu Nominates Ismail Abba Yusuf as NAHCON Chairman, Seeks Senate Confirmation

President Bola Ahmed Tinubu has nominated Ambassador Ismail Abba Yusuf as the new Chairman and Chief Executive Officer of the National Hajj Commission of Nigeria (NAHCON), subject to confirmation by the Senate.

The nomination was formally conveyed in a letter addressed to Senate President Godswill Akpabio on Wednesday, in line with Section 3(2) of the NAHCON Act, 2006, which mandates Senate approval before the appointment can take effect. The President urged lawmakers to expedite the confirmation process to ensure stability and continuity at the commission, especially as preparations for the 2026 Hajj exercise gather momentum.

The development follows the resignation of Professor Abdullahi Usman, who stepped down earlier this week after about 14 months in office as NAHCON Chairman. Although official details surrounding his resignation were not fully disclosed, his tenure was marked by efforts to reposition the commission and enhance coordination of Hajj operations for Nigerian pilgrims.

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His exit comes at a sensitive period when logistical planning, airlift arrangements, accommodation coordination, and pilgrim welfare services for the upcoming Hajj are intensifying. Stakeholders in the Hajj industry have emphasized the importance of swift leadership confirmation to avoid disruptions in preparations.

Ambassador Ismail Abba Yusuf is a seasoned Nigerian career diplomat who served as Nigeria’s Ambassador Extraordinary and Plenipotentiary to Türkiye from 2021 to 2024. During his diplomatic assignment, he played key roles in strengthening bilateral relations and advancing Nigeria’s foreign policy objectives.

If confirmed by the Senate, Yusuf will assume responsibility for overseeing Nigeria’s Hajj and Umrah operations, including the welfare and coordination of thousands of Nigerian pilgrims traveling annually to Saudi Arabia. The National Hajj Commission of Nigeria (NAHCON) is the statutory body responsible for organizing, supervising, and regulating Hajj and Umrah activities for Nigerian Muslims, as well as ensuring their welfare in Saudi Arabia.

The Senate is expected to schedule a confirmation hearing where Ambassador Yusuf will be screened by lawmakers. Upon approval, he will formally assume office as NAHCON Chairman, taking charge of preparations for the 2026 Hajj season.

The nomination is seen as part of broader efforts by the Tinubu administration to strengthen key institutions and ensure effective service delivery in religious affairs management.

Tinubu Nominates Ismail Abba Yusuf as NAHCON Chairman, Seeks Senate Confirmation

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