Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), has expressed strong support for Nigeria’s economic reforms under President Bola Tinubu’s administration.
Georgieva made the statement on Thursday via her official X account following a meeting with Tinubu on the sidelines of the G20 Summit in Brazil.
“Excellent meeting with 🇳🇬 President @officialABAT at the #G20 Summit,” Georgieva wrote. “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 Tinubu administration has implemented several key reforms, including the removal of the petrol subsidy, liberalisation of the foreign exchange system, and deregulation of the petroleum downstream sector. These measures are aimed at resetting Nigeria’s economy, rebuilding investor confidence, and attracting investments in critical sectors.
In a speech on June 12, marking Nigeria’s 25th Democracy Day, Tinubu acknowledged the country’s economic instability and highlighted the urgency of implementing long-overdue reforms. He assured Nigerians that his administration was working to address the nation’s economic challenges.
The World Bank also lauded the reforms during the launch of the Nigeria Development Update (NDU) report on October 17 in Abuja. It noted that while the policies have begun yielding positive outcomes, widespread economic hardship persists. The World Bank warned that reversing the reforms would have devastating consequences for Nigeria.
The IMF and other global financial institutions continue to advocate for the continuity of these reforms to ensure long-term economic stability and growth for the country.
