NewStats: 3,261,413 , 8,173,916 topics. Date: Thursday, 29 May 2025 at 07:37 AM 5h4i2j

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/

Basically, the economy is healthy enough to pull through in the face of global uncertainties. Imagine us being heavily dependent on petrol Importation, paying as huge as $20billion for fuel subsidy and then international supplies took a hit?.
Imagine us paying 97% of our revenue for debt payments and then oil revenues dipped and our foreign exchange took a massive hit?.
And then imagine we found ourselves back to where we once were when 30 states couldn't pay workers salaries because of global meltdown such that our revenues was massively affected?. It would have been absolutely catastrophic for us a a nation right now.
It's no fault of yours when global uncertainties bump into you when you least expected, however, it's all fault of yours when you were caught least prepared.
With global power play which is drastically affecting global demand and supply, Nigeria could beat her chest and say she is as healthy as holding up as much.

IMF don talk.

Make we hear word from all these naysayers again.

Dutch disease.

All the reforms are painful but necessary.

Good to know. The naysayers would soon run out of ideas on how to blame the government

Tinubu came at the right time. Nigeria do not deserve an intelligent and brilliant man like that.



-After God, na Tinubu 💪 God bless Nigeria

To sure

Good news for us. Bitter news for some people

Poverty and insecurity remain high

That's the main point for the masses. Tinubu is a monumental disaster.

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

jmoore:


That's the main point for the masses. Tinubu is a monumental disaster.

That is not the main point, that's just an obvious point. Poverty and insecurity have been with us for as long as we could . However the main drive is the point below: stability, resilience and steady growth which the reforms has brought so far so good.

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

This is just the bitter truth we are all been shying away from. We need to move away from stomach infrastructure to sustainable development.

Toh Na gradual process. Things are getting better gradually. We just need to be a bit more patient

IMF werey

President Tinubu has set the Nigerian economy free. The only thing lagging us behind at this moment is that we don't produce enough to free us from importation

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

Okay

Mad people !




Ndi Ala !

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

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

I no dey understand...

femisplash:
Basically, the economy is healthy enough to pull through in the face of global uncertainties. Imagine us being heavily dependent on petrol Importation, paying as huge as $20billion for fuel subsidy and then international supplies took a hit?.
Imagine us paying 97% of our revenue for debt payments and then oil revenues dipped and our foreign exchange took a massive hit?.
And then imagine we found ourselves back to where we once were when 30 states couldn't pay workers salaries because of global meltdown such that our revenues was massively affected?. It would have been absolutely catastrophic for us a a nation right now.
It's no fault of yours when global uncertainties bump into you when you least expected, however, it's all fault of yours when you were caught least prepared.
With global power play which is drastically affecting global demand and supply, Nigeria could beat her chest and say she is as healthy as holding up as much.

Cheap shameless propagandist

God Bless President Bola Tinubu
God Bless Federal Republic of Nigeria

Same imf that said people are still suffering in Nigeria 2 days ago.... Na d issue wey u get with imf and world bank bdis

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

Ekperima. Why are you emphasizing that you're from South East? You this shameless boy from Osogbo.

lol...which country has developed based on advice or comments from the IMF?


Nigeria had better get serious

IMF propaganda to make underdeveloped feel comfortable with them while Trump tier them down

They'll need Nigeria loyal to their course of keeping us dependent as they keep their citizens in better places

IMF is a slaver

femisplash:
Basically, the economy is healthy enough to pull through in the face of global uncertainties. Imagine us being heavily dependent on petrol Importation, paying as huge as $20billion for fuel subsidy and then international supplies took a hit?.
Imagine us paying 97% of our revenue for debt payments and then oil revenues dipped and our foreign exchange took a massive hit?.
And then imagine we found ourselves back to where we once were when 30 states couldn't pay workers salaries because of global meltdown such that our revenues was massively affected?. It would have been absolutely catastrophic for us a a nation right now.
It's no fault of yours when global uncertainties bump into you when you least expected, however, it's all fault of yours when you were caught least prepared.
With global power play which is drastically affecting global demand and supply, Nigeria could beat her chest and say she is as healthy as holding up as much.

IMF a*s licker

May all of those at the IMF responsible for shoving these policies down the throats of African countries stand appropriately cursed.

These guys are speaking from both sides of the mouth.

Just know all is not well for the masses once they start saying something good.