Tinubu’s economic reforms yet to ease poverty in Nigeria — IMF

The International Monetary Fund said on Friday that the Nigerian government’s tough economic reforms have yet to benefit the average citizen, nearly two years after their introduction.

After assuming office in May 2023, President Bola Ahmed Tinubu launched a sweeping economic reform programme, which both the government and the IMF described as necessary to correct the country’s public finances.

However, these measures have come at a cost for many ordinary Nigerians, who are experiencing the worst cost-of-living crisis in a generation.

The government has taken “important steps to stabilise the economy, enhance resilience, and support growth,” wrote Axel Schimmelpfennig, IMF Mission Chief for Nigeria, in a statement