The IMF projects Nigeria’s fiscal deficit to rise to 4.7% of GDP in 2025, driven by falling oil revenues and increased government spending. While 2024 saw some improvement, the IMF urges urgent policy action, tax reforms, and full implementation of fuel subsidy savings to prevent deeper fiscal instability.
Tony Elumelu, a leading advocate for African entrepreneurship, has been appointed to the IMF Advisory Council on Entrepreneurship and Growth. His inclusion underscores the importance of private sector-led development in shaping global economic policies.