The International Monetary Fund (IMF), has expressed strong support for President Bola Tinubu’s economic reforms.
Managing director of IMF, Kristalina Georgieva, speaking on X on Thursday, lauded the economic reforms implemented under the current government.
Her statement followed a meeting with the president on the sidelines of the G20 summit in Brazil.
“Excellent meeting with 🇳🇬 President @officialABAT at the #G20 Summit. Commended Nigeria’s decisive actions to reform the economy, accelerate growth and generate jobs for its vibrant population. The IMF strongly supports Nigeria on this journey,” the statement read.
The petrol subsidy removal, the liberalisation of the foreign exchange system, and the recent deregulation of the country’s petroleum downstream sector are a few policies of the incumbent government.
The policies are expected to reset Nigeria’s economy, regain investors’ confidence and attract investment in critical sectors.
On October 25, the IMF commended Tinubu’s administration during a press briefing in Washington DC, United States, for the economic reforms.
On June 12, during Nigeria’s 25th democracy anniversary, Tinubu said the country’s economy had been unstable and urgently required reforms that had been delayed for decades.
The president acknowledged the economic challenges facing the nation, saying his administration was working tirelessly to address them.
During the launch of the Nigeria Development Update (NDU) report in Abuja, in October, the World Bank said the country is seeing positive results from the reforms and advised continuity in the reforms, warning that reversing them would spell doom for the country.
