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: 188 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

AFR_REO_Cover_Eng_smallGrowth in sub-Saharan Africa has weakened after more than a decade of solid growth, although this overall outlook masks considerable variation across the region. Some countries have been negatively affected by falling prices of their main commodity exports. Oil-exporting countries, including Nigeria and Angola, have been hit hard by falling revenues and the resulting fiscal adjustments, while middle-income countries such as Ghana, South Africa, and Zambia are also facing unfavorable conditions. This October 2015 report discusses the fiscal and monetary policy adjustments necessary for these countries to adapt to the new environment. Chapter 2 looks at competitiveness in the region, analyzing the substantial trade integration that accompanied the recent period of high growth, and policy actions to nurture new sources of growth. Chapter 3 looks at the implications for the region of persistently high income and gender inequality and ways to reduce them.

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.