Lawmakers Back IMF, Say Fuel Subsidy Outdated The Chairman, House of Representatives Committee on Petroleum (Downstream), Mr Joseph Akinlaja, has expressed his support for the removal of subsidy on Premium Motor Spirit, also known as petrol, as recommended by the International Monetary Fund. Akinlaja, in a...

N24.39tn Debt: IMF Worried Over Nigeria’s Repayment Capacity   The International Monetary Fund, has expressed worry over Nigeria’s ability to repay its foreign debt which had continued to rise. Though it said conditions were favourable for the country to continue to borrow, the IMF equally expressed worry...

IMF Advises Nigeria To Tighten Monetary, Fiscal Policies   The International Monetary Fund, on Tuesday, advised Nigeria to continue to tighten monetary and fiscal policies amid weakening oil prices and multiple global economic risks. The IMF, in its World Economic Outlook released at the on-going joint annual...

Dangote refinery’ll Improve Nigeria’s Trade Balance By $2bn Annually – IMF   The International Monetary Fund has said the crude oil refinery being built by Dangote Industries Limited will improve the trade balance by $2bn per year after coming on stream. The Washington-based fund noted that Nigeria,...

FG Questions IMF's Economic Growth Forecast   The Minister of Budget and National Planning, Senator Udo Udoma, has said the nation’s economy will grow by 3.01 per cent this year, compared to a forecast of two per cent by the International Monetary Fund. The IMF, in its...

IMF Predicts Slower Economic Growth In 2019, As GDP Drops To 2% Against the backdrop of the recent drop in global crude oil prices, the International Monetary Fund said on Monday that Nigeria’s economy would expand more slowly in 2019 than previously predicted. The IMF, in...