IMF report shows Tinubu’s reforms working – Minister

The Federal Government has welcomed the latest assessment of Nigeria’s economy by the International Monetary Fund, describing it as a strong endorsement of the economic reforms introduced by President Bola Ahmed Tinubu.

In its 2026 Article IV Consultation Report, the IMF said key policy measures implemented by the administration, including the removal of fuel subsidies, foreign exchange market liberalisation, the end of deficit monetisation, and tighter fiscal discipline, have contributed to improved macroeconomic stability and strengthened the country’s economic outlook.

According to the report, the reforms have helped boost external reserves, restore investors confidence, and enhance Nigeria’s ability to withstand global economic shocks. The Fund also noted that despite rising energy prices linked to tensions in the Middle East, Nigeria’s foreign exchange market remained relatively stable, with the exchange rate premium staying below five per cent.

Welcoming the report, the Federal Government said the findings affirm the direction of its economic agenda.

“The IMF’s assessment validates the bold reforms undertaken by the administration of President Bola Tinubu, which have improved macroeconomic stability, strengthened investor confidence, and enhanced Nigeria’s resilience to global economic shocks,” the government stated.

The IMF further observed that Nigeria could benefit from increased oil revenues amid higher global energy prices, while investors confidence has remained resilient.

Reacting to the report, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, acknowledged that poverty and food insecurity remain major challenges and reaffirmed the government’s commitment to addressing them through targeted interventions.

“While poverty and food insecurity remain serious concerns, the government will continue investing in social protection programmes, agricultural development and job creation initiatives aimed at improving the welfare of Nigerians,” Oyedele said.

The IMF projected that Nigeria’s economy will expand by more than four per cent in the medium term. It also noted that the country’s public debt burden is declining relative to Gross Domestic Product (GDP), reflecting improvements in fiscal management.

The Federal Government said the report reinforces its confidence that ongoing reforms are laying the foundation for sustainable economic growth, greater economic stability and improved living standards.