This web page presents information about the work of the IMF in Nigeria, including the activities of the IMF Resident Representative Office. Additional information can be found on the Nigeria and IMF country page, including IMF reports and Executive Board documents that deal with Nigeria.

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At a Glance : Nigeria's Relations with the IMF

  • Current IMF membership: 189 countries
  • Date of Nigeria's membership: March 30, 1961
  • Quota: SDR 1753.2 million (0.5 percent of total)
  • Outstanding loans: None
  • Latest Article IV consultation: February 11, 2011
  • Policy Support Instrument: Approved 16 October, 2005; Expired 15 October 2007; four reviews completed
  • Technical Assistance: 10 missions in 2007; 2 resident advisors in post September 2008

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Nigeria and The IMF

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Regional Economic Outlook for Sub-Saharan Africa

Sub-Saharan Africa: Multispeed Growth

October 2016

Economic growth in sub-Saharan Africa this year is set to drop to its lowest level in more than 20 years, reflecting the adverse external environment, and a lackluster policy response in many countries. However, the aggregate picture is one of multispeed growth: while most of non-resource-intensive countries—half of the countries in the region—continue to perform well, as they benefit from lower oil prices, an improved business environment, and continued strong infrastructure investment, most commodity exporters are under severe economic strains. This is particularly the case for oil exporters whose near-term prospects have worsened significantly in recent months. Sub-Saharan Africa remains a region of immense economic potential, but policy adjustment in the hardest-hit countries needs to be enacted promptly to allow for a growth rebound.

Read the report

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Departmental Papers on Africa

Africa Departmental Papers Cover The Departmental African Paper Series covers research on Sub-Saharan Africa conducted by International Monetary Fund (IMF) staff, particularly on issues of broad regional or cross-country interest. The views expressed in these papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

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IMF Opens Africa Training Institute in Mauritius

The International Monetary Fund (IMF) on June 26, 2014 opened the Africa Training Institute (ATI) in Ebene, Mauritius, adding an important regional center to a global network of centers helping to develop countries' policymaking capacity by transferring economic skills and best practices.