IMF Staff Country Reports

Nigeria : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Nigeria

Author/Editor:

International Monetary Fund. African Dept.

Publication Date:

April 1, 2019

Electronic Access:

Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Nigeria’s economy is still recovering from the substantial terms-of-trade shock that triggered the 2016 recession. Over the past two years, the rebound in oil prices, a tight monetary policy, and a convergence in foreign exchange windows have helped reduce inflation and rebuild external buffers. However, persistent structural and policy challenges—including a large infrastructure gap, low revenue mobilization, and high dependence on hot money—constrain growth to below the level needed to reduce vulnerabilities and improve development outcomes. With elections now complete, there is a greater chance for faster policy implementation.

Series:

Country Report No. 19/92

Subject:

Central Banks Development Economic growth Economic recovery Monetary policy