Nearly two years after President Bola Ahmed Tinubu unveiled bold economic reforms, the International Monetary Fund (IMF) says the impact is yet to trickle down to the average Nigerian.
In a statement released Friday, IMF Mission Chief for Nigeria, Axel Schimmelpfennig, who acknowledged the Tinubu administration’s efforts to stabilise public finances and steer the country toward long-term growth, however admitted that the sweeping policy shifts have deepened hardship for many citizens.
Since May 2023, Tinubu’s government has implemented reforms such as fuel subsidy removal and currency unification, steps applauded by global financial institutions for their fiscal prudence.
“The government has taken important steps to stabilise the economy, enhance resilience, and support growth,” Schimmelpfennig said.
