IMF Warns Nigeria Against Restoring Petrol Subsidy
B: Mardiyyah Abubakar The International Monetary Fund (IMF) has urged the Federal Government not to restore a blanket petrol subsidy, recommending targeted support for vulnerable households affected by rising fuel prices. The Fund warned that broad fuel subsidies place pressure on public finances, cost governments significant revenue and often benefit higher-income consumers more than poorer […]
FG Denies Plans for New Telecoms, Fuel Taxes
By Oluwakemi Kindness The Federal Government has dismissed reports claiming it has introduced or is considering new taxes on telecommunications services and petroleum products, describing the claims as a misrepresentation of recommendations contained in the International Monetary Fund (IMF) Article IV Consultation Report on Nigeria. In a statement issued on Tuesday, the Federal Ministry of […]
FG Welcomes IMF Backing for Reform Agenda
By Oluwakemi Kindness The Federal Government has expressed satisfaction with the International Monetary Fund’s (IMF) latest assessment of Nigeria’s economy, describing it as an independent validation of the economic reforms implemented under President Bola Tinubu’s administration. In a statement issued on Tuesday, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, says the […]
Cardoso Says Nigeria’s Economic Reforms On Track After IMF
By Oluwakemi Kindness Governor of the Central Bank of Nigeria, Olayemi Cardoso, says the country’s economy remains firmly on track following the 2026 Spring Meetings of the IMF and World Bank Spring Meetings in Washington. Cardoso, in a message on the bank’s official X handle on Monday, says the CBN is focused on building on […]
Oil Windfall May Fade Fast as IMF, UN Warn Nigeria
By Arinzechi Chukwunonso Rising global oil prices driven by tensions in the Middle East may offer only temporary relief for Nigeria and other oil-producing economies, according to fresh warnings from the International Monetary Fund and the United Nations. The caution comes amid growing concerns over disruptions linked to the ongoing Iran conflict, particularly the closure […]
NOA Attributes Rising Investor Interest to Nigeria’s Improved Global Image
By Al-Kadriyar Abdullahi The Director-General of the National Orientation Agency (NOA), Lanre Issa-Onilu, has attributed the recent increase in foreign investor interest to Nigeria’s enhanced international image and perception. Speaking to journalists, Issa-Onilu highlighted growing confidence among foreign investors, international financial institutions such as the International Monetary Fund (IMF) and World Bank, and world leaders as […]
Tinubu Support Group Disputes IMF’s Nigeria Growth Forecast
By Oluwakemi Kindness The Tinubu Media Support Group (TMSG) has expressed concern over what it describes as the International Monetary Fund’s (IMF) underestimation of Nigeria’s economic capacity and potential. Speaking in a statement issued on Wednesday in Abuja, and jointly signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, the group argued that the […]
IMF Projects 3.4% GDP Growth for Nigeria in 2025 Amid Reforms
By Oluwakemi Kindness The International Monetary Fund (IMF) has projected that Nigeria’s real Gross Domestic Product (GDP) will grow by 3.4% in 2025, driven by higher oil production, the launch of a new domestic refinery, and a robust services sector. This outlook is according to the IMF’s 2025 Article IV Consultation report, following the conclusion […]