The International Monetary Fund has sounded a stark warning about the state of Nigeria’s economy under President Bola Tinubu’s administration. Despite policy reforms aimed at stimulating growth and stabilizing the economy, the harsh realities of poverty and food insecurity continue to grip the nation, leaving millions of Nigerians struggling to make ends meet. The IMF’s assessment raises critical questions about the effectiveness of current economic strategies and underscores the urgent need for more targeted interventions to alleviate the suffering of the most vulnerable populations.

The IMF states that President Bola Tinubu’s economic policies have not yet delivered significant benefits for Nigerians, with widespread poverty and food insecurity persisting.

The IMF noted on Friday that Nigerian authorities have implemented key measures to stabilize the economy, boost resilience, and promote growth.

“The financing of the fiscal deficit by the central bank has ceased, costly fuel subsidies were removed, and the functioning of the foreign exchange market has improved. Gains have yet to benefit all Nigerians as poverty and food insecurity remain high,” it stated

The IMF revealed this after a team, led by Nigeria Mission Chief Axel Schimmelpfennig, visited Lagos and Abuja from April 2–15 for the 2025 Article IV Consultations with Nigeria.

The IMF noted that reforms by Tinubu’s administration have better positioned Nigeria’s economy to handle external challenges but cautioned that economic uncertainty persists.

”The outlook is marked by significant uncertainty. Elevated global risk sentiment and lower oil prices impact the Nigerian economy. Looking ahead, macroeconomic policies need to further strengthen buffers and resilience while creating enabling conditions for private sector-led growth,” the IMF stated.

The IMF’s comments on poverty and food insecurity align with the frustrations of many Nigerians, who have expressed growing economic hardship under President Tinubu’s leadership.

In August 2024, thousands of Nigerians held a 10-day nationwide protest against poor governance and hunger.

President Tinubu, however, has consistently stated that these hardships are essential sacrifices for achieving long-term economic recovery.

As Nigeria navigates these challenging economic times, the IMF’s observations highlight both the potential of ongoing reforms and the pressing need to address persistent poverty and food insecurity. While President Tinubu emphasizes the necessity of short-term sacrifices for long-term prosperity, the growing discontent among Nigerians underscores the urgency for tangible results.

The path to economic recovery remains complex, with the nation watching closely for policies that deliver meaningful relief and sustainable growth.