IMF Resident Representative Office in Nigeria

Abuja, Nigeria

Government District in front of the Aso Rock (Photograph by Bernd Noack)

Nigeria Resident Representative Site

Resident Representative Office in Nigeria

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.

At a Glance : Nigeria's Relations with the IMF

Current IMF membership: 186 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 13, 2008
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

News — Highlights

Press Release: IMF Representative Endorses CBN Intervention in Some Banks As Essential to Long Term Growth and Development, September 15, 2009

The following statement was issued today in Abuja by the IMF country chief and representative in Nigeria, David Nello

IMF Survey: IMF Builds Statistical Capacity in Africa

The IMF is helping 22 sub-Saharan African countries improve the quality, coverage, and dissemination of key statistics.

The Impact of the Global Financial Crisis on Sub-Saharan Africa—Outlook for the Nigerian Economy; Charles N. O. Mordi; Research Department; Central Bank of Nigeria; May 19, 2009

Charles N. O. Mordi; Research Department, Central Bank of Nigeria

Nigeria and the IMF

Nigeria: 2009 Article IV Consultation-Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; Statement by the IMF Staff Representative; and Statement by the Executive Director for Nigeria

November 16,2009
Series: Country Report No. 09/315

Public Information Notice: IMF Executive Board Concludes Article IV Consultation with Nigeria

October 28,2009
Each Public Information Notice contains a background section, a table of selected economic indicators, and an Executive Board assessment.

Transcript of a Press Briefing by Caroline Atkinson, Director, External Relations, IMF

October 22,2009

Do Trading Partners Still Matter for Nigeria's Growth? A Contribution to the Debate on Decoupling and Spillovers

October 7,2009
Author/Editor: Obiora, Kingsley I.
Series: Working Paper No. 09/218

Concluding Remarks by the Hon. Mansur Muhtar, Governor of the World Bank and Fund for Nigeria, at the Closing Joint Session

October 7,2009
PDF File Size: 268Kb

Regional Economic Outlook for Sub-Saharan Africa

image from the publication cover

The global financial crisis has worsened significantly the economic outlook for sub-Saharan Africa. Demand for African exports and commodity export prices have fallen, and remittance flows may be weakening. Tighter global credit and investor risk aversion have led to a reversal of portfolio inflows, less favorable conditions for trade finance, and could lower foreign direct investment. As a result, growth has started to slow markedly and fiscal and balance of payments pressures are mounting. Risks remain high and the prospects for recovery remain uncertain. Financial systems in the region have so far been resilient to the global crisis, but the economic slowdown is likely to increase credit risk and nonperforming loans and weaken financial institutions’ balance sheets. Sub-Saharan African countries should seek to contain the adverse impact of the crisis on economic growth and poverty, while preserving important hard-won gains of recent years, including macroeconomic stability and debt sustainability.

Resident Representative for Nigeria

David Nellor
Senior Resident Representative in Nigeria
9 Hon. Justice Mohammed Bello St.
Asokoro Abuja
E-mail: dnellor@imf.org
Tel: +(234 9) 782 2506