IMF Urges Nigerian Government to Review 2025 Budget Amid Low Oil Prices.
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- IMF Urges Nigerian Government to Review 2025 Budget Amid Low Oil Prices.
IMF Urges Nigerian Government to Review 2025 Budget Amid Low Oil Prices.
The International Monetary Fund (IMF) has recommended that Nigeria’s federal government reassess its 2025 budget of ₦54.99 trillion in li
ght of lower-than-expected global oil prices.
This advice was included in the IMF’s Article IV Consultation Report on Nigeria, released today in Washington, D.C.
The Fund projects Nigeria’s economy to grow by 3.4 percent, driven by increased oil production and a decline in inflation.
The IMF commended the reforms initiated by President Bola Tinubu’s administration, particularly the removal of fuel subsidies and the Central Bank of Nigeria’s unification of exchange rates, describing these measures as effective.
The report also praised the Central Bank of Nigeria (CBN) for liberalizing the exchange rate and implementing policies that have boosted capital inflows into the country.
The IMF highlighted the CBN’s commitment to maintaining a tight monetary policy, which should remain until inflation is firmly under control.
Additionally, the Fund acknowledged efforts to strengthen Nigeria’s banking sector, including ongoing recapitalization initiatives.
It welcomed the CBN’s work to improve financial inclusion and develop the capital markets, while stressing the importance of adopting strong risk-based supervision for mortgage and consumer lending, as well as for fintech and cryptocurrency sectors.
Further details are expected.
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Faith Kegh
Content & Editorial Manager - Leads the creation, review, and publication of high-quality news and media content. She ensures that all editorial work reflects the organization’s standards of accuracy, professionalism, and relevance, while also engaging and informing the audience.
As the key driver of TokinPoint Media LTD's editorial voice, the manager oversees content planning, assigns tasks to writers or editors, enforces deadlines, and ensures consistency across all platforms. She also plays a strategic role in aligning content with audience interests and search engine optimization (SEO) best practices.