Tinubu and IMF Chief
Further to the complains of many Nigerians that the nation is need of positive change that will push out the current government, the International Monetary Fund (IMF) has developed fears on the workings of the current administration’s economic reforms in the last three years, saying poverty and food insecurity have worsened as 63 per cent of Nigerians now live below poverty line.
Facts and figures from IMF, in its 2026 Article IV Consultation Report on Nigeria released on Tuesday, showed that an estimated 27 million Nigerians faced food insecurity in the latter part of 2025, even as the country recorded stronger macroeconomic indicators, improved foreign reserves and renewed investor confidence.
Whereas the international agency agreed fuel subsidy removal, exchange rate liberalisation, tighter monetary policy and an end to deficit monetisation have strengthened macroeconomic stability and improved resilience in the economy, it noted that rising global fuel, food and fertiliser prices are worsening inflationary pressures and deepening hardship among citizens.
The Fund also stated that the naira appreciated by 10 per cent year-on-year against the United States dollar in March 2026.
IMF expressed concern over Nigeria’s fiscal position, noting that the consolidated government deficit widened to 4.4 per cent of GDP in 2025 from 2.4 per cent in 2024.
It said oil revenues underperformed budget expectations, while government interest payments consumed 53 per cent of federal revenues in 2025, up from 41 per cent in the previous year.
The report further raised concerns about off-budget spending and “complex financing instruments”, urging authorities to strengthen transparency, accountability and public financial management systems.
