Nigeria’s Economic Reforms Gain IMF Backing as FG Pledges Sustained Policy Drive

The Federal Government has reaffirmed its commitment to sustaining ongoing economic reforms following a positive assessment from the International Monetary Fund (IMF) in its 2026 Article IV Mission report on Nigeria. According to the government, the IMF’s findings further validate efforts aimed at strengthening macroeconomic stability and rebuilding investor confidence.

Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the IMF report reflects “independent validation” that bold policy decisions under President Bola Ahmed Tinubu are beginning to deliver results. He noted that these reforms are laying the groundwork for sustainable and inclusive economic growth across the country.

The IMF highlighted improvements in Nigeria’s foreign exchange market, stronger external buffers, increased fiscal discipline, and greater resilience in the banking sector. The report also acknowledged that recent reforms have helped stabilize the economy and improve its ability to withstand global financial shocks.

Despite rising global challenges, including energy price increases and supply chain disruptions linked to geopolitical tensions, the IMF observed that Nigeria has remained relatively stable. Key indicators such as foreign exchange market performance, sovereign spreads, and investor confidence were noted to be broadly steady.

While acknowledging progress, the government admitted that poverty and food insecurity remain major concerns. Oyedele emphasized that although per capita income has grown and economic indicators are improving, macroeconomic stability alone is not enough. He stressed that reforms must ultimately translate into better living standards and meaningful welfare improvements for Nigerians.

source: This day