•Tinubu and IMF logo The International Monetary Fund (IMF) yesterday advised the Nigerian government not to restore the broad petrol subsidy. The Bretton Woods institution instead asked the government to deploy targeted support for vulnerable households to cushion the impact of rising energy costs, reports Daily Trust. The latest advisory is c...
•Tinubu, fuel nozzle and IMF logo The International Monetary Fund (IMF) has warned the federal government against restoring a broad petrol subsidy, recommending targeted support for vulnerable households to cushion the impact of rising energy costs. The Fund said blanket petrol subsidies are expensive, often benefit higher-income consumers dis...
•A collapsed building following the earthquakes The twin earthquakes that struck Venezuela last month killed over 5,000 people, officials said, while announcing they drew hundreds of millions of dollars from the International Monetary Fund (IMF) for reconstruction. The 7.2 and 7.5 magnitude quakes struck within a minute of each other on June 2...
•Tinubu and IMF logo The International Monetary Fund (IMF) says the Naira is still undervalued by 25.6 percent despite the ongoing reforms in the Nigeria’s foreign exchange (FX) reforms. In its latest Article IV consultation report on Nigeria, the Washington-based institution said its Real Effective Exchange Rate (REER) model showed the local ...
•Tinubu and IMF logo The International Monetary Fund said today that reforms implemented by the Nigerian government had strengthened the country’s economy, but warned that more than 60 percent of Nigerians now live in poverty. Since taking office just over three years ago, President Bola Tinubu has removed a costly fuel subsidy that had kept [...
•Ras Tanura’s oil production plant near Dammam in Saudi Arabia Saudi Arabia’s economy has shown resilience in the face of headwinds triggered by the Middle East war thanks in part to energy and logistics infrastructure that bypasses the Strait of Hormuz, the IMF said today. The Gulf has borne much of the brunt of the […]
•Tinubu and IMF logo Profits from rising oil and gas prices for developing world producers, including Nigeria, are likely to be short-lived, the head of the United Nations trade ‌agency said yesterday. The warning followed rising concerns over the negative aftermath of the ongoing Iran war, which has led to higher shipping costs due to [&helli...
•Gbenga Hashim A Peoples Democratic Party (PDP) presidential aspirant, Dr Gbenga Hashim, has faulted Nigeria’s continued reliance on the International Monetary Fund’s (IMF) economic prescriptions. He said the country’s economic decline stemmed from policy choices shaped by external institutions rather than domestic realities. Hashim said this ...
The World Bank and the International Monetary Fund (IMF) yesterday urged decisive measures to further reduce inflation in order to translate economic gains into tangible improvements in household welfare. The global lenders and development partners admitted that macro-economic gains are being recorded on the strength of reforms but declared th...
•Tinubu and IMF logo Nigeria walked a fine line between applause and anxiety at the 2025 Annual Meetings of the International Monetary Fund (IMF) and World Bank, as the country’s reform momentum drew commendation from global financiers, while fiscal, debt, and oil-sector concerns triggered calls for vigilance and deeper discipline. The IMF, in...
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