The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, acknowledged the release of the International Monetary Fund’s (IMF) findings on Nigeria after concluding the Article IV Consultation in April 2025.
Mr. Edun expressed gratitude for the IMF’s recognition of Nigeria’s ongoing reform efforts and noted tangible progress over the past two years. These reforms have led to improvements in Nigeria’s fiscal and external positions, boosting investor confidence and strengthening economic resilience.
The Minister also welcomed the IMF’s acknowledgment of advancements in agriculture, especially increased food production that has helped moderate inflation. As of May 2025, headline inflation eased to 22.9%, with food inflation declining to 21.4%, both improvements from previous levels during the IMF mission.
He highlighted the IMF’s positive outlook on Nigeria’s economic reforms, stating they have positioned the country to better withstand external shocks.
Addressing downside risks mentioned in the IMF report, particularly global economic uncertainties, Mr. Edun emphasized a proactive government stance. He stated that implementing the 2025 Budget focuses on safeguarding reform gains and ensuring economic stability. The government is monitoring developments in international oil markets and global trade environments while taking measures to mitigate potential risks and maintain momentum toward inclusive growth.
The Federal Government remains committed to sound economic management promoting macroeconomic stability, broad-based growth, and improved living standards for Nigerians.
Signed,
Mohammed Manga FCAI
Director, Information and Public Relations
July 2, 2025.