The Executive Board of the International Monetary Fund (IMF) on January 27, 2021, concluded the Article IV consultation [1] with Nigeria, with sundry monetary and fiscal policies recommended for implementation in order to sustainably grow the nation’s economy. In recent times, the IMF Directors observed that Nigeria’s economy had been hit hard by the COVID-19 […]
The World Bank Group and the International Monetary Fund (IMF) have shifted their Annual Meetings scheduled for Marrakesh, Morocco, in October 2021 to 2022 due to the COVID-19 pandemic. The IMF stated on Thursday that the decision to postpone the Annual Meetings was reached after consultations between the two Breton Woods Institutions and the host […]
The Ibadan Field Office of the Department of Petroleum Resources (DPR) on Monday threatened to sanction oil marketers engaging in fuel hoarding in order to ensure availability of products. Giving this hint while interacting with journalists on fuel situation in the state, the Controller Operations, DPR Ibadan Field Office, Mr Oluyemi Olaonipekun, promised that the […]
The International Monetary Fund (IMF) has advised the Nigerian government on the need to reduce its tax exemptions and incentives list for companies as a strategic option of boosting non-oil tax collections. In addition, the Fund also tasked government on tax reforms, including raising excise taxes and expanding its scope to cover more goods The […]
The International Monetary Fund (IMF) on Thursday stated Nigeria’s slow economic growth was not strong enough to lift millions of Nigerians from poverty, despite 137 percent points growth in real Gross Domestic Product (GDP) from 0.8 percent in 2017 to 1.9 percent last year. The IMF, recognising Nigeria’s growth “on the back of improvements in […]
The International Monetary Fund has canvassed the need for the Nigerian Government to prioritise structural reforms and growth-friendly fiscal consolidation in view of the increasing non-oil revenue accruals in order to stabilize the nation’s economy. The IMF Senior resident representative in Nigeria, Dr Amine Mati, made this position known at the September breakfast edition of […]
The International Monetary Fund (IMF) on Wednesday reported that women remained grossly underrepresented at all levels of the global financial system, from depositors and borrowers to bank board members and regulators. According to the organisation’s new study, greater inclusion of women as users, providers, and regulators of financial services would have benefits beyond addressing gender […]
The International Monetary Fund (IMF) on Monday revised upwards its earlier forecast on Nigeria’s growth rate for 2019 while retaining the projection for the current fiscal year. Specifically, the Fund in its latest World Economic Outlook (WEO) Update, July 2018 titled, ‘Less Even Expansion, and Rising Trade Tensions’ raised the country’s Gross Domestic Product (GDP) […]
The International Monetary Fund (IMF) has described most of Nigeria’s economic reform initiatives as desirable for the nation’s growth, despite some challenges. The Fund’s position was contained in a statement issued by Amine Mati, Senior Resident Representative and Mission Chief for Nigeria, when its staff team visited Nigeria from June 27 to July 9, 2018 […]
The International Monetary Fund warned on Tuesday cautioned Sub-Saharan African nations over heavy borrowing and gaping deficits, despite an overall growth in economic growth being recorded in most of the economies. The Breton Woods institution, in its Economic Outlook Report released in Ghana, noted that The economies would be plunged into another era of debt […]