The International Monetary Fund (IMF) says Nigeria is making meaningful progress following a series of significant structural reforms to restore financial discipline and credibility.
The IMF commended Nigeria’s authorities for bold and politically difficult policies that have “improved macroeconomic stability and enhanced resilience.”
The IMF, in its latest Article IV Consultation released on Wednesday, July 2, 2025, noted that the Central Bank of Nigeria (CBN) is “appropriately maintaining a tight monetary policy stance, which should continue until disinflation becomes entrenched.”
Naira appreciates against dollar at official market
“Gross and net international reserves increased in 2024, with a strong current account surplus and improved portfolio inflows,” it added.
Speaking on the IMF report, CBN Governor Olayemi Cardoso, said: “At a time of global uncertainty, this assessment reaffirms that responsible, forward-looking policy choices matter.
“It affirms that Nigeria is regaining credibility, anchoring expectations, and laying the foundation for inclusive, long-term growth.
“It is both an encouragement to stay the course, and a reminder that resilience and prosperity require continued discipline and vision.”
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