The International Monetary Fund (IMF) has acknowledged that economic reforms introduced by the Nigerian government have improved the country’s macroeconomic stability, but warned that poverty and food insecurity remain major challenges.
In a statement issued on Tuesday following its annual review of Nigeria’s economy, the IMF said reforms implemented under President Bola Tinubu’s administration over the past three years have strengthened economic resilience and delivered positive macroeconomic outcomes.
Since assuming office, Tinubu has removed the long-standing fuel subsidy, liberalised the foreign exchange market, and introduced tax reforms aimed at restructuring the economy.
According to the IMF, these policy measures have helped improve economic fundamentals, although living conditions remain difficult for many Nigerians.
“Strong reforms over the past three years have yielded improved macroeconomic outcomes and built resilience,” the IMF stated.
“Still, conditions for many Nigerians remain difficult.”
The Fund noted that poverty levels have continued to rise, with about 63
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