Nigerian government welcomes IMF assessment of economic reforms
via Punch Nigeria3 min read
The Federal Government of Nigeria has expressed satisfaction with the International Monetary Fund's IMF assessment of the country's economy, viewing it as an independent endorsement of the economic reforms implemented under President Bola Tinubu's administration. Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, stated that the IMF's 2026 Article IV Mission Concluding Statement recognized significant progress in enhancing macroeconomic stability and Nigeria's resilience to external economic shocks. The IMF highlighted improvements in the foreign exchange market, stronger external reserves, ongoing fiscal reforms, banking sector stability, and broader macroeconomic gains over the past two and a half years. Oyedele noted that the IMF acknowledged the impact of key policy decisions, including the removal of fuel subsidies, the end of deficit monetization, foreign exchange market reforms, and efforts to improve fiscal discipline. The government is encouraged by the IMF's assessment that Nigeria has remained resilient despite global economic uncertainties. The IMF also observed that Nigeria could benefit from higher oil prices through increased export earnings, improved government revenues, and stronger foreign exchange inflows. The Federal Government is focused on leveraging these opportunities by boosting crude oil production, expanding domestic refining capacity, increasing gas exports, and attracting investments into the energy sector. While acknowle
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General Olufemi Oluyede, the Chief of Defence Staff, reaffirmed the Nigerian Armed Forces' dedication to using psychological and influence operations for conflict prevention, national stabilization, and peace. Speaking at the Defence Headquarters Psychological Operations Workshop in Abuja, Oluyede, represented by Rear Admiral Abolade Ogunleye, highlighted the necessity of a "whole-of-government and whole-of-society approach" to build national resilience. He emphasized that influence operations are crucial for addressing conflict causes, countering misinformation, strengthening public trust, and promoting peaceful coexistence. The workshop, themed "Building National Resilience: The Role of Influence Operations in Conflict Prevention and Stabilization," included participants from various sectors. Dr. Salihu Dembos, Director General of the Nigerian Television Authority, represented by Hajiya Halima Musa, stressed the importance of strategic communication for national unity. Mallam Jibrin Ndace, Director General of the Voice of Nigeria, underscored the criticality of credible communication and public engagement for sustainable peace. The workshop concluded with recommendations for enhanced inter-agency collaboration, increased institutional capacity, improved public engagement, and the integration of influence operations into national conflict prevention and stabilization efforts.
Nigeria's para powerlifting team has secured $18,000 in performance rewards following a strong start at the 2026 Commonwealth Games in Glasgow. The National Sports Commission had previously announced cash incentives for medallists. Esther Nworgu won Nigeria鈥檚 first gold medal, setting a Games record of 119.0 points in the women鈥檚 lightweight para powerlifting, ahead of compatriot Esther Oyema who took silver with 115.5 points. Nworgu received $8,000 in total rewards, while Oyema received $5,000. In the men鈥檚 lightweight category, Roland Ezuruike secured a silver medal with 153.9 points and also received $5,000. These three medallists collectively earned $18,000. The NSC has pledged cumulative cash rewards of $8,000 for gold, $5,000 for silver, and $3,000 for bronze medallists at Glasgow 2026. Nigeria's team, comprising experienced and emerging talents, will continue to compete in various events, with expectations for further medal-winning performances.
The Chairman of the Independent National Electoral Commission INEC, Prof. Joash Amupitan, has assured Nigerians that their votes will be counted in the 2027 general elections. This assurance was given during a courtesy visit to former Head of State and Chairman of the National Peace Committee, General Abdulsalam Abubakar retd., in Minna, Niger State. Amupitan praised Abubakar as "the father of democracy in Nigeria" and a "pillar of support for INEC," commending the National Peace Committee's Peace Accord initiative for promoting non-violence among political actors. The INEC chairman stated the commission's commitment to ensuring that the will of Nigerians, as expressed at the polls, will prevail. He also confirmed the dates for the 2027 general elections: Presidential and National Assembly elections on January 16, 2027, and Governorship and State Houses of Assembly elections on February 6, 2027. Abubakar, in turn, urged Nigerians to support INEC.