The International Monetary Fund (IMF) has advised Nigeria to enhance transparency in the oil sector to ensure that the subsidy removal savings are transferred to the government’s budget. The director of the African department at the IMF, Abebe Selassie, gave the advice on Friday while presenting the findings of the Regional Economic Outlook for Sub-Saharan Africa report at the IMF …

A few days ago, the leadership of the Nigeria Labour Congress (NLC), received a two-man delegation from the International Monetary Fund (IMF), comprising the IMF Resident Representative for Nigeria, Christian H. Ebeke, and, Axel Schimmelpfennig from Washington, D.C. The purpose of the visit was to assess how Nigerian workers and the general populace are being affected by the current socioeconomic …

A Political Science, Sylvester Odion Akhaine has lamented the insidious role of Bretton Woods Institutions (BMIs) – World Bank, International Monetary Fund (IMF) and other agents of international finance – in wracking and undermining the development of Africa over the years. He argued that while ‘the masses in Africa desire popular democracy that is both participatory and egalitarian and guarantees …

President Bola Tinubu has assured that his administration will continue prioritising the welfare of the poor and most vulnerable even as the economic reforms bear fruit. President Tinubu stated this on Wednesday night in Rio de Janeiro, Brazil, when the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, paid him a courtesy call on the sidelines of the …

The Academic Staff Union of Universities (ASUU) on Tuesday raised an alarm over a plot to sabotage the interest of public universities in the country. ASUU’s National President, Prof Emmanuel Osodeke, at an event marking the 2024 ASUU’s Heroes Day in Abuja, also accused the World Bank and the International Monetary Fund (IMF) of working relentlessly to destroy Nigeria’s public …

The Executive Director of Civil Society Legislative Advocacy Centre ( CISLAC), Comrade Auwal lbrahim Rafsanjani has called for the need for African nations to take charge of their economic liberation rather than relying on Western intervention. He described this dependence as a form of deception during the recently concluded 2024 IMF/World Bank Annual Meeting. The human rights activist emphasised that …

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has said that Nigeria’s $500 million domestic bond was oversubscribed despite warnings from the International Monetary Fund (IMF) not to issue the bond. On 15 August, the Federal Government launched a $500 million domestic bond, which commenced subscription five days later at $1,000 per unit to interested investors. …

Data from the International Monetary Fund (IMF) has shown Nigeria’s economy is expected to rise to at least $1.852 trillion in Purchasing Power Parity (PPP) terms by 2029. The IMF’s prediction shows a noteworthy growth path for the country’s economy over the next five years. The country’s GDP in PPP terms has been on the increase, projected to rise from …

The International Monetary Fund (IMF) has explained why the Central Bank of Nigeria (CBN) should issue operating licences or register cryptocurrency dealers. In its 2024 Staff Report released at the weekend, the IMF recommends that global crypto trading platforms be registered or licensed in Nigeria, like similar operators, the Bureaux De Change (BDCs), which are licensed by the CBN to …

The International Monetary Fund (IMF) has explained why it advised Nigeria to remove fuel subsidies, adding that the subsidy regime was robbing the poor for the rich. The Director of the African Department of the Fund, Mr. Abebe Selassie, provided insights into the organisation’s position, at the ongoing Spring Meetings of the IMF and World Bank in Washington DC. According …