Nigeria will navigate global shocks due to Tinubu’s reforms

Nigeria will navigate global shocks due to Tinubu’s reforms

The International Monetary Fund (IMF) says Nigeria will navigate global shocks due to the reforms implemented by President Bola Tinubu.   Axel Schimmelpfennig, IMF mission chief for Nigeria, spoke during a visit to Lagos and Abuja from April 2 to 15, where he led a delegation to hold discussions for the 2025 Article IV Consultations with Nigeria.   The team met with Wale Edun, minister of finance and coordinating minister of the economy; Abubaka…

IMF Welcomes Nigeria’s Bold Reforms

The International Monetary Fund (IMF) has commended Nigeria’s ongoing economic reforms, describing them as bold measures that have helped stabilise the economy and laid the groundwork for future growth. However, the Fund also cautioned that declining oil prices and global economic uncertainty could pose risks to the country’s macroeconomic outlook. This was as the Central Bank of Nigeria (CBN) in its January 2025 Economic Report revealed that th…

Nigeria Faces Uncertain Future as Oil Prices Fall – IMF

Daniel Adaji The International Monetary Fund (IMF) has warned that Nigeria faces an uncertain economic future as falling oil prices drop. In a report released on Friday and obtained by Pointblank News from the IMF website, the Fund said that despite recent reforms, Nigeria remains vulnerable to external shocks due to its dependence on oil revenues. “The outlook is marked by significant uncertainty. Elevated global risk sentiment and lower oil p…

“The Nigerian authorities have taken important steps to stabilize the economy, increase resilience, and support growth. These reforms put Nigeria in a better position to deal with the external environment,” an IMF statement reads after annual consultations with Nigeria under Article IV. For IMF technicians, “the macroeconomic outlook is marked by significant uncertainty”, and the “sentiment of high global risk and lower oil prices have an impact…

IMF recommends tight monetary policy to lower Nigeria’s inflation

The International Monetary Fund (IMF) says a tight monetary policy stance is required to firmly guide inflation down in Nigeria. Axel Schimmelpfennig, IMF’s mission chief for Nigeria, said this in a statement on Friday following his visit to hold discussions for the 2025 Article IV Consultations with Nigeria. Schimmelpfennig led an IMF team to Lagos […] The post IMF recommends tight monetary policy to lower Nigeria’s inflation appeared first on …

International Monetary Fund (IMF) Staff Completes 2025 Article IV Mission to Nigeria

The Nigerian authorities have taken important steps to stabilize the economy, enhance resilience, and support growth. These reforms have put Nigeria in a better position to navigate the external environment. The macroeconomic outlook is marked by significant uncertainty. Elevated global risk sentiment and lower oil prices impact the Nigerian economy. Macroeconomic policies need to further […]