International records / International Monetary Fund

Nigeria: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Nigeria

1. Sustained reforms have yielded gains, strengthening Nigeria’s resilience to shocks (Figure 1). The authorities have implemented bold reforms since taking office in 2023, including liberalizing and strengthening the functioning of the foreign exchange market, removing fuel subsidies, and ending monetary financing. Revenue administration efforts have improved collection. Stepped up security around the critical oil infrastructure and farmland has boosted oil and agriculture output (Figure 2). The naira has become more stable, portfolio inflows have returned, Nigeria successfully tapped externa…