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Many Nigerians face extremely difficult situation – IMF

Published on March 29, 2025 at 06:17 AM

The International Monetary Fundâ€‹, IMFâ€‹, has stated that many Nigerians are going through difficult situations, urging the government to attend to their plight.

The global financial institution wants cash transfers to be prioritized, acknowledging that such a measure would alleviate the hardship individuals and families face.

IMF Communications Department Director Julie â€‹Kozackâ€‹ spoke at a press briefing that discusseâ€‹d the latest developments related to key economic issuesâ€‹.

While commending the authorities' policies to stabilize the economy and promote growth, â€‹â€‹Kozackâ€‹ said the actions should be accompanied by â€‹”targeted social transfers to support the most vulnerable populations.â€‹”

“We do recognize the extremely difficult situation that many Nigerians face,” Kozack noted.

“Completing the rollout of cash transfers to vulnerable households is an important priority for Nigeriaâ€‹,” she added.

â€‹The IMF official also identified “improving revenue mobilization domestically” as another top priority for the most populous country in Africa.

Kozack, however, confirmed that IMF personnel are planning to travel to Nigeria next week in preparation for the 2025 Article IV Consultation.

Every year, the institution holds bilateral meetings with member-states for collection of economic and financial information, as well as discussion on policies and economic developments.