The International Monetary Fund (IMF) on Thursday urged the Nigerian government to accompany its economic stabilisation policies with targeted social welfare programmes to support the most vulnerable populations in the country.
The IMF Director of Communications, Julie Kozack, made the call during a routine press conference at the IMF headquarters in Washington, DC.
Kozack acknowledged the challenges many Nigerians faced and stressed the importance of support programmes for vulnerable households.
She said: “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.”
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She urged the federal government to prioritise the completion of the cash transfers to vulnerable households and improve domestic revenue mobilisation
Kozack also announced that IMF staff would visit Nigeria next week to prepare for the 2025 Article IV Consultation.
Under Article IV of the IMF’s Articles of Agreement, the IMF conducts annual bilateral discussions with member countries.
As part of this process, a staff team visits the country, gathers economic and financial data, and engages with officials on economic policies and developments.
