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.

Nigeria and the IMF Country Page

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At a Glance

  • Current IMF membership: 189 countries
  • Date of Nigeria's membership: March 30, 1961
  • Special Drawing Rights (SDR): 1499.05 million
  • Quota (SDR): 2454.5 million
  • Latest Article IV consultation: April 3, 2019

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Office Activities

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Nigeria and the IMF

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Regional Economic Outlook for Sub-Saharan Africa

April 12, 2019

Sub-Saharan Africa Regional Economic Outlook: Recovery Amid Elevated Uncertainty

The economic recovery in sub-Saharan Africa continues. Regional growth is set to pick up from 3 percent in 2018 to 3.5 percent in 2019, before stabilizing at close to 4 percent over the medium term. These region‑wide numbers mask considerable differences in the growth performance and prospects of countries across the region. About half of the region’s countries— mostly non-resource-intensive countries—are expected to grow at 5 percent or more, which would see per capita incomes rise faster than the rest of the world on average over the medium term. For all other countries, mostly resource-intensive countries, improvements in living standards will be slower. Notwithstanding these different economic prospects and policy priorities, countries share the challenge of strengthening resilience and creating higher, more inclusive and durable growth. Addressing these challenges requires building fiscal space and enhancing resilience to shocks by stepping up actions to mobilize revenues, alongside policies to boost productivity and private investment.


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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.