The International Monetary Fund has called on the Nigerian government to step up its reform agenda, warning that persistently high inflation—still above 20 percent—is undermining economic progress.
In a report titled “How Nigeria Can Unleash Its Economic Potential,” the Fund acknowledged recent policy efforts but flagged inflation, poverty, and poor infrastructure—especially erratic electricity—as critical barriers to growth.
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It urged the government to adopt a realistic budget framework, improve spending efficiency, and ensure transparency.
The IMF also advised that savings from fuel subsidy removal be channelled into social protection and development.
It further recommended that the Central Bank maintain a firm monetary stance to bring inflation under control.
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