Nigeria’s Poor Need Help: IMF Urges Government to Act 

The International Monetary Fund (IMF) has called on the Nigerian government to complement its economic stabilisation policies with targeted social welfare programs to support the country’s most vulnerable citizens. 

IMF spokeswoman Julie Kozack made this appeal on Thursday during a press conference at the IMF headquarters in Washington, DC. She acknowledged the economic hardship faced by many Nigerians and emphasized the need for direct support to struggling households.

“The authorities’ policies to stabilise the economy and promote growth are welcomed. However, they must be accompanied by targeted social transfers to support the most vulnerable populations. We recognise the extremely difficult situation that many Nigerians face,” Kozack stated.

She further stressed the importance of completing the rollout of cash transfers to vulnerable households and enhancing domestic revenue mobilisation as key priorities for Nigeria.

Additionally, Kozack announced that an IMF delegation would visit Nigeria next week to prepare for the 2025 Article IV Consultation, an annual review of the country’s economic and financial policies.

Under Article IV of the IMF’s Articles of Agreement, the IMF conducts yearly bilateral discussions with member nations. During these engagements, IMF officials gather economic data, assess financial conditions, and consult with government representatives on policy directions and economic developments.

NAN

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