Abuja, Nigeria – July, 2025 — The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has commended the findings of the International Monetary Fund (IMF) following its recently concluded Article IV Consultation on Nigeria, held in April 2025.
Mr. Edun expressed appreciation for the IMF’s recognition of the Federal Government’s ongoing economic reform initiatives, noting that the progress recorded over the past two years has significantly improved the country’s fiscal and external positions. These improvements, he stated, have helped to strengthen investor confidence and reinforce the resilience of the Nigerian economy.
The Minister also welcomed the IMF’s favourable remarks on the agricultural sector, citing increased food production as a contributing factor to easing inflationary pressures. As of May 2025, headline inflation dropped to 22.9%, while food inflation decreased to 21.4%—a marked improvement from figures reported during the IMF mission.
Highlighting the IMF’s overall positive outlook, Edun noted that Nigeria’s economic reforms are positioning the nation to better weather global economic fluctuations. However, he acknowledged the downside risks flagged in the IMF report, particularly the volatility in global oil markets and uncertainties in international trade.
“The implementation of the 2025 Budget is being executed with vigilance to protect the gains we have made,” the Minister said. “We are monitoring global developments closely and responding with appropriate measures to safeguard economic stability and ensure inclusive growth.”
He reaffirmed the government’s dedication to sound economic management, emphasizing that reforms are geared toward macroeconomic stability, broad-based growth, and enhancing the quality of life for Nigerians.
The IMF’s Article IV Consultation is a routine assessment of member countries’ economic health and policy frameworks, and Nigeria’s latest review reflects a cautiously optimistic outlook with strong acknowledgment of reform-driven progress.