The International Monetary Fund (IMF) has stated that President Bola Ahmed Tinubu’s economic reforms have not yet eased the harsh realities faced by millions of Nigerians, despite efforts to stabilize the country’s fragile economy.

In a statement released on Friday, April 18, 2025, IMF Mission Chief for Nigeria, Axel Schimmelpfennig, acknowledged that while the Nigerian government has taken bold steps to restore economic balance, poverty and food insecurity remain alarmingly high.

Following President Tinubu’s inauguration in May 2023, his administration introduced sweeping reforms—including the removal of fuel subsidies, floating the naira, and ending Central Bank deficit financing—in a bid to address longstanding fiscal issues.

“These are important steps to stabilize the economy, enhance resilience, and support growth,” Schimmelpfennig said. However, he noted that the economic gains have not translated into real benefits for the average Nigerian, as the country continues to grapple with a deepening cost-of-living crisis.

The IMF further warned that the country’s economic outlook remains uncertain, especially in light of falling global oil prices and increased geopolitical instability.

Despite the challenges, the IMF noted that Tinubu’s policies have put Nigeria in a “better position to navigate external economic shocks.”

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However, according to a World Bank report released in October 2024, poverty levels in Nigeria have worsened, with over 129 million Nigerians—more than half the population—now living in poverty.

As economic pressure mounts, citizens continue to demand urgent relief and sustainable development strategies to improve their living conditions.

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