The International Monetary Fund (IMF) has urged the Nigerian government to accompany its economic stabilisation policies with targeted social welfare transfers to support the most vulnerable populations.
IMF Director of Communications, Julie Kozack, made this known during a routine press conference at the IMF headquarters in Washington, DC, on Thursday.
Kozack acknowledged the challenges many Nigerians faced and stressed the importance of prioritising support for vulnerable households.
“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,” she said.
She said that completing the rollout of cash transfers to vulnerable households and improving domestic revenue mobilisation should be key priorities for Nigeria.
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.
