•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...
•Tinubu and IMF logo The International Monetary Fund has revealed that Nigeria is not among Africa’s fastest-growing economies, as countries such as Benin Republic, Côte d’Ivoire, Ethiopia, Rwanda, and Uganda continue to lead the continent’s growth trajectory in the world. The IMF said the five countries are now among the world’s fastest-expan...
•Tinubu and IMF logo The International Monetary Fund (IMF) has called on Nigeria and other nations to reduce their debt burdens, cautioning that excessive borrowing can stifle economic growth. Kristalina Georgieva, Managing Director of the IMF, made the appeal yesterday during a civil society organisation town hall at the ongoing annual meetin...
•Tinubu and IMF logo The International Monetary Fund (IMF) has stated that NigeÂria’s budgeting process will conÂtinue to suffer from a deep-seated optimism bias — an entrenched tendency to overestimate revenue potential despite chronic underÂperformance in actual collections. The Fund, in its selected paÂpers titled, ‘Fiscal Forecasting ErÂro...
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