By Ikugbadi Oluwasegun
The federal government has welcomed a positive assessment of Nigeria’s economy by the International Monetary Fund, saying the report validates the reform programme of President Bola Tinubu.
In its 2026 Article IV report, the IMF noted that bold reforms under President Bola Tinubu, including the removal of fuel subsidies, foreign exchange liberalisation, ending deficit monetisation, and stronger fiscal discipline have improved macroeconomic stability, strengthened external buffers, restored investor confidence, and enhanced the country’s resilience to global shocks.
Despite Middle East tensions driving up energy prices, the Fund also observed that Nigeria’s Foreign Exchange premium stayed below 5%, and investor confidence remained stable, adding that Nigeria stands to benefit from higher oil revenues.
Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, while acknowledging that poverty and food insecurity remain serious challenges, pledged government’s continued investment in social protection, agriculture, and job creation to fight poverty and food insecurity.
The IMF projects Nigeria’s economy will grow above four percent in the medium term, with public debt already declining as a share of GDP.
