Many Nigerians are facing challenging circumstances, according to the International Monetary Fund (IMF), which has called on the government to address their predicament.
The international financial organisation recognises that people and families would experience less hardship if cash transfers were given priority.
Julie Kozack, director of the IMF Communications Department, gave a press briefing on the most recent events concerning important economic challenges.
Kozack praised the government’s efforts to stabilise the economy and spur growth but said that “targeted social transfers to support the most vulnerable populations” should go hand in hand with the measures.
“We do recognize the extremely difficult situation that many Nigerians face,” Kozack noted.
“Completing the rollout of cash transfers to vulnerable households is an important priority for Nigeria,” she added.
The most populous nation in Africa has “improving revenue mobilisation domestically” as another major objective, said the IMF official.
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However, Kozack affirmed that IMF staff would visit Nigeria the following week to be ready for the 2025 Article IV Consultation.
The organisation meets bilaterally with member governments each year to discuss policy and economic trends and to gather financial and economic data.
