Tag: IMF

IMF urges Nigeria to tax fuel, telecoms to boost revenue

Aminu Imam
IMF urges Nigeria

The International Monetary Fund (IMF) has recommended that Nigeria introduce taxes on fuel products and telecommunications services to raise government revenue, according to its 2026 Article IV Consultation report – even as Nigerians protest a worsening standard of living amid widespread insurgency. The IMF called for measures including raising the VAT rate, extending VAT to fuel, and introducing telecom excise duties, while cautioning that timing must account for rising poverty and food insecurity, and that cash transfer systems must first be in place. Both proposals face strong headwinds. A previous…

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’27m Nigerians faced food insecurity in 2025 under Tinubu’ – IMF

Aminu Imam
IMF on food insecurity

…As poverty rate hits 63%  …Foreign debt to hit $72.6bn after 2027 polls The International Monetary Fund, (IMF), has revealed that poverty in Nigeria rose to 63% under the administration of President Bola Tinubu, while an estimated 27 million Nigerians experienced food insecurity during the latter part of 2025 despite improvements in key macroeconomic indicators. The Fund disclosed this in a statement issued on Tuesday in Washington, DC, USA, where it assessed Nigeria’s economic performance and reform efforts over the past three years. According to the IMF, although recent economic…

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‘M’East war may push 20m Africans into food insecurity’ – IMF 

Aminu Imam
IMF

The International Monetary Fund (IMF) has warned that a 20 per cent rise in international food prices caused by the war in the Middle-East could push more than 20 million people in sub-Saharan Africa into food insecurity and leave two million children under the age of five acutely malnourished. The warning came as the IMF said the conflict is threatening to derail the economic gains recorded across the region after sub-Saharan Africa entered 2026 with its strongest growth momentum in a decade. According to the IMF, the region recorded a…

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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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‘Nigeria’s 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 Nigeria’s 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 Côte d’Ivoire, Ghana, and Zambia. However, Nigeria was conspicuously absent from the list of success stories. According to the report, sub-Saharan Africa’s average…

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