Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has expressed strong support for Nigeria’s economic reforms under President Bola Tinubu.
Speaking on X after a meeting with Tinubu during the G20 Summit in Brazil, Georgieva commended the president’s efforts to reform the economy and drive job creation for Nigeria’s growing population.
“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 reads.
Tinubu’s administration has implemented several key reforms, including the removal of the petrol subsidy, liberalisation of the foreign exchange market, and deregulation of the petroleum downstream sector.
These policies aim to stabilise the economy, restore investor confidence, and attract investments in critical sectors.
On October 25, the IMF reiterated its support for these reforms during a press briefing in Washington, D.C., acknowledging their potential to reset Nigeria’s economic trajectory.
Earlier, during Nigeria’s 25th Democracy Anniversary on June 12, Tinubu admitted that the economy had been unstable and overdue for comprehensive reforms.
Despite the challenges, his government remains committed to resolving economic instability.
The World Bank, in its Nigeria Development Update (NDU) report launched on October 17 in Abuja, noted positive outcomes from the reforms.
However, the global financial institution warned that sustaining these changes is crucial, as reversing them could have dire consequences for the nation.
While the reforms have drawn international commendation, many Nigerians continue to grapple with the hardships they have brought, underscoring the need for careful implementation and continuity.
