IMF Staff Country Reports

Nigeria: Poverty Reduction Strategy Paper: Progress Report: Joint Staff Advisory Note

Publication Date:

August 3, 2007

Electronic Access:

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Summary:

This paper discusses key findings of the annual progress report on implementing the National Economic Empowerment and Development Strategy (NEEDS)—Nigeria’s Poverty Reduction Strategy Paper. The progress report highlights key accomplishments and shortcomings as well as outstanding issues. Key macroeconomic indicators improved during the last years, reflecting the authorities’ attention to macroeconomic management, an improved policy framework, and favorable external environment. Non-oil growth was robust, and despite unrest in the Niger Delta, oil production could fully fill the OPEC quota. The budgetary oil price rule was an essential anchor of fiscal policy.

Series:

Country Report No. 2007/271

Subject:

Education Health Infrastructure National accounts Oil prices Prices Public financial management (PFM) Public sector