- IMF Managing Director Kristalina Georgieva commends Nigeria’s economic reforms under President Bola Tinubu’s leadership.
- Decisive measures taken to foster economic growth and job creation.
- Progress made towards economic stability.
- IMF’s strong commitment to supporting Nigeria’s recovery and development.
The International Monetary Fund (IMF) has praised Nigeria’s economic reforms, acknowledging the country’s efforts to promote growth and stability. Kristalina Georgieva, IMF Managing Director, met with President Bola Tinubu at the G20 Summit in Brazil, describing their engagement as “excellent”. Georgieva highlighted Nigeria’s progress in its quest for economic stability, citing decisive measures to accelerate growth and generate jobs.
Nigeria’s ongoing reforms include subsidy removal, exchange rate harmonization, and policies to restore investor confidence and strengthen fiscal discipline. While these reforms are necessary, they have sparked debates within the country due to their impact on living standards, as Nigerians battle high inflation and poverty.
The IMF has pledged strong support for Nigeria’s recovery and development. This endorsement comes after the IMF’s 2024 Article IV consultation with Nigeria, which concluded that the country is on an ambitious reform path to restore macroeconomic stability and support inclusive growth. With a projected real GDP growth rate of 3.3% for 2024, Nigeria is poised for faster, more inclusive, and resilient growth.
