NewStats: 3,261,915 , 8,175,524 topics. Date: Saturday, 31 May 2025 at 01:14 AM 173y56

Nigeria would have crashed without those reforms

Tinubu don do easter for them , you no understand

Amalekki:


You don smoke your thing again

It take someone who smokes that thing to recognize someone who smokes it.

grandstar:


Perhaps, you add Soludo as well.

https://thenationonlineng.net/subsidy-removal-floating-of-naira-disruptive-changes-nigeria-must-go-through-soludo/

You guys are just pathetic. Soludo is clearly patronizing this government, any sane economics will tell you it is madness to float your currency without measures in place to cope with the shocks.

Meti99:

And then he hands over power to a nitwit and problems starts over again..
Tinubu isn't bold enough as you're trying to portray him to pull the bull by its horns..
He may be a good politician but not a good leader

Better than you, your entire well known politicians. That is okay

obyno82:


You guys are just pathetic. Soludo is clearly patronizing this government, any sane economics will tell you it is madness to float your currency without measures in place to cope with the shocks.

Okay. What measures would you have suggested he put in place?

grandstar:


Okay. What measures would you have suggested he put in place?

Floating the currency and removing subsidy should not at happen at the same time. Because the multiplier effect was very bad on the economy. Tinubu himself should have cut cost of governance to the barest minimum to improve efficiency. That was the first thing because the move of devaluation(float) was to give the illusion of more money in the hands of government which was a lie.

tollyboy5:
All the comments above are from one WhatsApp group 😁😁😁😁😁

That group has made Nairaland so boring with less traffic, its almost as if they have bought Nairaland. Seun needs to do something about this group by preventing their monikers from commenting on page 1, if they create new monikers the mods should ban them

Anyone who IMF claps for came to destroy their people. The last time these people were happy with our economy was during SAP under IBB where people were dropping off from hunger.

So this is not an achievement. Austerity in a land of hunger is not an economic strategy. China did not build a powerhouse by starving its people. It created jobs for them

If any African nation thinks the world bank is for their progress, it’s a big waste of explanation

femisplash:

The International Monetary Fund (IMF) says Nigeria will navigate global shocks due to the reforms implemented by President Bola Tinubu.

Axel Schimmelpfennig, IMF mission chief for Nigeria, spoke during a visit to Lagos and Abuja from April 2 to 15, where he led a delegation to hold discussions for the 2025 Article IV Consultations with Nigeria.

The team met with Wale Edun, minister of finance and coordinating minister of the economy; Abubakar Kyari, minister of agriculture and food security; Yemi Cardoso, governor of the Central Bank of Nigeria (CBN); ministry of environment and other stakeholders in the private sector, academia, labour unions, and civil society.

In a statement by the IMF, Schimmelpfennig said authorities had taken “important steps” to stabilise the economy, enhance resilience, and growth.

The steps, he noted, include ending the CBN’s financing of the fiscal deficit, removing costly petrol subsidy, and improving the functioning of the foreign exchange market.

“The Nigerian authorities have taken important steps to stabilise the economy, enhance resilience, and growth,” Schimmelpfennig said.

“The financing of the fiscal deficit by the central bank has ceased, costly fuel subsidies were removed, and the functioning of the foreign exchange market has improved. Gains have yet to benefit all Nigerians as poverty and food insecurity remain high.

”The outlook is marked by significant uncertainty. Elevated global risk sentiment and lower oil prices impact the Nigerian economy.

“The reforms since 2023 have put the Nigerian economy in a better position to navigate this external environment. Looking ahead, macroeconomic policies need to further strengthen buffers and resilience, while creating enabling conditions for private sector-led growth.

“The authorities communicated to the mission that they will implement the 2025 budget in a manner that is responsive to the decline in international oil prices.”

TIGHT MONETARY POLICY REQUIRED TO CURB INFLATION’

The IMF official also recommended a neutral fiscal stance to monetary policy in bringing down inflation.

He added that fiscal savings from petrol subsidy reforms should be channelled into the national budget to protect critical investments.

Schimmelpfennig further advised that the CBN maintain a tight monetary policy stance to curb inflation.

“In particular, adjustments should protect critical, growth-enhancing investment, while accelerating and broadening the delivery of cash transfers under the World Bank-ed program to provide relief to those experiencing food insecurity,” he said.

“A tight monetary policy stance is required to firmly guide inflation down.”

Schimmelpfennig said the monetary policy committee’s data-dependent approach has served Nigeria well and will help navigate elevated macroeconomic uncertainty.

https://www.thecable.ng/imf-nigeria-will-navigate-global-shocks-due-to-tinubus-reforms/

The subsidy removal and restoration of refineries operations were definitely necessary because Nigeria was living in a fool's paradise and spending the money it didn't have on useless subsidies, BUT ultimately, it's MOST important to focus more on gas exploitation and export to earn FX revenues since Nigeria is more of a huge gas nation more than it is a crude oil nation.

The cheaper CNG should also be the fulcrum for crashing the cost of transportation and commodities haulage from the farm gates to the end buyers so as to drive down hyperinflation and minimize the punishing pain a significant number of folks over there in Nigeria are facing in of the high cost of food, medications, transportation, etc.

If the people too are wise enough, they would immediately begin to learn more about financial literacy strategies to prevent any cyclical local and global economic recessions that will definitely come in the future and affect their lives. There have been 2 past economic recessions in Nigeria and also global economic recessions in 2008 and the Covid-19 global economic disaster, yet a vast number of people NEVER planned their personal finances to mitigate the effects of future economic downturns. ONLY those who are prepared financially in of financial education will always survive and NOT blame the political establishment, wealthy folks, and others for their own highly unwise mistakes of not planning ahead against future economic shocks. Period.

The IMF and Nigerian Leaders are co partners in business they know how transcribe falsehood to the gullible masses.

ThinkSmarter:
Tinubu maybe running Nepotistic government.
But, he is at least running with the best team.
Tinubu may have ugly pasts and still a political cartel, but the truth is that he is a political genius.
Not only that he is good in politics, he is also good in ing/Business istration.
Running a country is different from running a religious ministry.
So, I am not expecting Tinubu to be a pulpit figure.
One need to be street credible, smart, rugged, tough, yet civilized enough to be a Commander in Chief of the Armed Forces.
And also oversea the country's Economy.
Tinubu is my President and I am proud of
him.
He is taking Nigeria to the path of Economic Growth and Prosperity.
His macro Economic Reforms is giving...
He got my vote by 2027, God's willing.


Note: I am from SE Nigeria

This is very unusual of our brothers from SE. God bless you for being objective.
One good quality Tinubu has is being audacious. The moment he's convinced something would bring positive development,he would go ahead with it. None of our past leaders was ready to take these unpopular decisions.

femisplash:


https://www.thecable.ng/imf-nigeria-will-navigate-global-shocks-due-to-tinubus-reforms/

Foreign Lamba

Yes, Tinubu still remain the best President Nigeria ever had. In due cause Nigeria will be like China world economic development operations programs in Africa

obyno82:


You are not from SE stop all this hatchet job to give the impression that anyone against his government is from SE.

obi dajuo gi nwanne.