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🇳🇬 Nigeria /Economy & Trade

FG renews commitment to economic reforms

From The Punch · () English

Summarized and contextualized by DistantNews.

At a glance

News Official statement New plan
  • Nigeria's Finance Minister reaffirmed the nation's commitment to economic reforms and partnership with the IMF.
  • The minister praised the outgoing IMF Resident Representative for his support during Nigeria's economic transition.
  • The government aims to restore economic stability, strengthen public finances, and foster long-term growth through these reforms.

Nigeria's Federal Government has renewed its pledge to collaborate with the International Monetary Fund (IMF) as it advances its economic reform agenda. The commitment was highlighted at a farewell dinner in Abuja for the outgoing IMF Resident Representative, Dr. Christian Ebeke.

a trusted partner whose professionalism, technical depth and constructive engagement helped strengthen cooperation between Nigeria and the IMF during a critical period of economic transition.

— Taiwo OyedeleMinister of Finance and Coordinating Minister of the Economy, describing the outgoing IMF Resident Representative.

Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, lauded Ebeke's contributions during his three-year tenure. Oyedele described Ebeke as a "trusted partner" whose expertise and engagement were instrumental in strengthening Nigeria-IMF cooperation during a critical period of economic change. The reforms implemented during this time are designed to stabilize the economy, improve government finances, boost investor confidence, and establish a foundation for sustainable growth.

his commitment to dialogue, mutual respect and practical problem-solving further strengthened the longstanding relationship between Nigeria and the IMF.

— Taiwo OyedeleMinister of Finance and Coordinating Minister of the Economy, on the IMF official's engagement style.

Oyedele noted Ebeke's close engagement with Nigerian authorities, providing crucial technical support and demonstrating a keen understanding of the country's economic challenges. His involvement spanned key government priorities, including fiscal reforms, domestic revenue mobilization, public debt management, and foreign exchange reforms. The minister also commended Ebeke's personal qualities, such as his humility and ability to build confidence across institutions, emphasizing his collaborative approach to problem-solving.

his humility, accessibility and ability to build confidence across institutions.

— Taiwo OyedeleMinister of Finance and Coordinating Minister of the Economy, praising the outgoing IMF representative's personal qualities.

The Federal Ministry of Finance expressed confidence that the relationships forged during Ebeke's assignment would continue to bolster cooperation between Nigeria and the IMF. The sentiment was echoed by Stanley George, Director of International Economic Relations at the Ministry, who remembered Ebeke's tenure for its professionalism and steadfast support for Nigeria's economic reform efforts.

Rather than prescribing solutions from a distance, he engaged stakeholders with openness, listened carefully to differing perspectives and worked collaboratively in support of Nigeria’s development aspirations.

— Taiwo OyedeleMinister of Finance and Coordinating Minister of the Economy, detailing the IMF official's collaborative approach.
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Originally published by The Punch. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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