The Federal Government has said the International Monetary Fund (IMF) has validated Nigeria’s ongoing economic reforms, noting that the country is becoming more resilient, stable, and better positioned for long-term growth.
In a statement on Tuesday, 9 June 2026, the government welcomed the IMF 2026 Article IV Concluding Statement on Nigeria, describing it as an independent confirmation that reforms under President Bola Ahmed Tinubu are restoring macroeconomic stability and rebuilding investor confidence.
The IMF report highlighted improvements in foreign exchange market performance, stronger external buffers, banking sector stability, and overall macroeconomic resilience. It also noted that Nigeria’s policy direction has helped reduce vulnerabilities to global shocks.
According to the Fund, reforms such as the removal of fuel subsidies, exchange rate liberalisation, and tighter fiscal discipline have strengthened the economy and improved its ability to withstand external pressures.
The report further observed that despite rising global energy and food prices, Nigeria has maintained relative stability, with the foreign exchange premium contained and investor confidence sustained.
The Federal Government said it was encouraged by the IMF’s view that Nigeria stands to benefit from higher global energy prices through increased export earnings and improved fiscal inflows.
It acknowledged, however, that poverty and food insecurity remain major challenges, stressing that economic growth must translate into improved living standards for citizens.
To address this, the government said it is expanding social protection programmes, including cash transfers, student loans through NELFUND, consumer credit schemes, and healthcare interventions aimed at vulnerable households.
In agriculture, it said investments are being scaled up under the Renewed Hope Agricultural Mechanisation Programme to boost productivity, improve food supply, and create rural jobs.
The government also noted progress in tax reforms, revenue digitisation, and public financial management, adding that efforts are ongoing to strengthen transparency and fiscal reporting systems.
It reaffirmed commitment to sustaining reforms, attracting investment, and ensuring that macroeconomic gains translate into jobs, lower inflation, and improved welfare for Nigerians.
