Tag: IMF

IMF warns of tougher economic times for Nigerians

Aminu Imam
IMF warns Nigerians on economic times

The International Monetary Fund (IMF), has warned that Nigerians may face tougher economic conditions in the near-term, as rising food and transportation costs continue to squeeze household incomes amid lingering global shocks. The Fund also raised concerns about Nigeria’s growing debt burden, even as crude oil prices surged above $113 per barrel in the international market, offering potential upside for government revenue. The price rally, driven partly by uncertainties around US–Iran peace talks linked to Middle-East tensions, has created expectations of stronger oil earnings for Nigeria. At current levels, Nigerian…

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IMF warns Nigeria on debt prudence, amid $6bn infrastructure loan approval

Aminu Imam
IMF warns FG on debt

The International Monetary Fund (IMF) has urged caution in managing external loans, as the Tinubu administration secures a $6 billion facility to accelerate infrastructure development in transport and energy sectors. Approved from a consortium of international lenders, the funding aligns with global trends from Asia and aims to modernize roads, railways, power grids, and more—boosting economic growth, job creation, and regional trade. Analysts highlight potential for enhanced manufacturing and FDI, but stress fiscal sustainability through concessional terms, transparent monitoring, and revenue-linked projects. Analysts suggest that this injection of capital will…

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IMF cautions Nigeria on rising debt, oil dependence

Aminu Imam
IMF cautions Nigeria

Nigeria found itself on a tightrope at the 2025 Annual Meetings of the International Monetary Fund (IMF) and the World Bank, where its reform efforts earned recognition while underlying vulnerabilities raised serious concern. According to the IMF’s ‘World Economic Outlook and Fiscal Monitor’, Nigeria’s growth forecast for 2025 was upgraded to 3.9 percent, up from 3.4 percent in July, due to stronger domestic fundamentals, improved oil production, and rising investor sentiment. Despite the positive outlook, the IMF flagged persistent risks for Nigeria’s economy. It warned that rising debt-servicing costs and…

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CISLAC seeks debt cancellation, reforms at IMF, W’Bank

Aminu Imam
CISLAC seeks

Executive Director of the Civil Society Legislative Advocacy Centre (CISLAC) and Head of Transparency International Nigeria, Auwal Ibrahim Musa Rafsanjani, has raised a red flag over Africa’s deepening fiscal crisis, calling for urgent reforms in global financial governance and African debt management. Speaking at the 2025 Annual Meetings of the International Monetary Fund (IMF) and the World Bank in Washington D.C., Rafsanjani described Nigeria’s debt trajectory as unsustainable and reckless, with most of the country’s borrowings being used for recurrent expenditure rather than productive investments. ‘Most of the loans we…

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Africa’s fastest-growing economies: ‘Benin, Rwanda, others outpace Nigeria’ – IMF 

Aminu Imam
Nigeria IMF

The International Monetary Fund, (IMF), has excluded Nigeria from its latest list of Africa’s fastest-growing economies, naming Benin Republic, Côte d’Ivoire, Ethiopia, Rwanda, and Uganda as the continent’s top performers. IMF African Department Director, Abebe Selassie, disclosed this while presenting its ‘Sub-Saharan Africa’s Regional Economic Outlook’ on Thursday.  He attributed the strong performance of the five countries to sustained fiscal reforms, macro-economic stability, and investments in infrastructure and manufacturing. Selassie said sub-Saharan Africa’s growth is projected to hold steady at 4.1% in 2025, with a modest improvement expected in 2026.…

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“W’Bank, IMF insisted FG must remove all subsidies’ – Falana

Aminu Imam
Falana on W'Bank, IMF

A Senior Advocate of Nigeria, Femi Falana, has accused the World Bank and the International Monetary Fund (IMF) of pushing the federal government to remove fuel subsidy. Falana, while speaking during an interview on a television programme on Sunday, stated that no country in the world has completely abolished subsidies. The human rights activist further criticised President Bola Tinubu’s administration over the decision to remove the fuel subsidy. He said, “There’s no way you can remove subsidy completely. No country in the entire world has abolished subsidies completely. Even leading…

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‘Nigerias reforms are not working’ – IMF Report

Aminu Imam

The latest International Monetary Fund (IMF) report on the economic outlook for sub-Saharan Africa has indicated that Nigerias ongoing economic reforms are struggling to deliver meaningful results, even 18 months after their implementation. The report, presented on Friday at the Lagos Business School (LBS) by IMF Deputy Director, Catherine Patillo, highlighted a mixed performance of economic reforms across the region, with notable successes in countries such as Cte dIvoire, Ghana, and Zambia. However, Nigeria was conspicuously absent from the list of success stories. According to the report, sub-Saharan Africas average…

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“Politicians, IMF, World Bank driving Nigerians towards Venezuela” Ali Ndume

Aminu Imam
Ndume on hardship

Senator representing Borno-South, Ali Ndume, has accused politicians, the International Monetary Fund (IMF), and the World Bank of contributing significantly to Nigerias economic woes. Speaking during an interview on a television programme  yesterday, Ndume warned that their actions are pushing the country toward a crisis similar to Venezuelas. The senators remarks reflect his criticism of external economic policies and domestic political mismanagement, which he believes have combined to worsen the countrys economic challenges. Ndume emphasised the need for a more self-reliant and locally driven approach to economic reforms, urging leaders…

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“Dont do everything IMF, World Bank asks you to” Jega tells Tinubu

Aminu Imam
Jega tells Tinubu

Says their policies are ‘anti-people’ Former Chairman of the Independent National Electoral Commission, (INEC), Prof. Attahiru Jega, has urged the Nigerian government not to take every advice offered by the Bretton Woods institutions the World Bank and the International Monetary Fund, (IMF). The former INEC boss gave this advice while speaking at the ongoing 2024 Annual Directors Conference, with the theme: Good Governance as a Catalyst for Economic Recovery, Growth, and Development, organised by the Chartered Institute of Directors of Nigeria, (CIoD), said while it is good and useful…

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Hardship: “We didnt tell Tinubu to remove fuel subsidy” IMF

Aminu Imam
IMF on subsidies

The International Monetary Fund (IMF) has denied advising the President Bola Tinubu administration to remove fuel subsidy. Speaking at a press conference during the IMF and World Bank Annual Meetings in Washington DC, United States, IMFs African Region Director Abebe Selassie, stated that it does not have a say on the fiscal, monetary and macro-economic policies of any nation.  The global lender said the Tinubu’s administration  independently made the decision to do away with fuel subsidy, describing the move to remove the subsidy as a domestic one. According to him,…

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