## Nigeria: Staff Report for the 2011 Article IV Consultation

_IMF Staff Country Reports, July 24, 2012_

## Source details

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## Bibliographic details
- Published: July 24, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475506679.002

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### Key findings
- Non-oil real GDP: 8.3 percent.
- Overall real GDP: 6.7 percent.
- A modest fiscal consolidation took place in 2011 in response to:
  - Substantial monetary tightening by the Central Bank of Nigeria.
  - Moderation of food prices.
- Banks showed continued improvement in financial stability.
- Executive Directors commended the authorities for countercyclical policies.
- Executive Directors emphasized the need for policies that safeguard macroeconomic stability and ensure inclusive growth.

### Macroeconomic and policy context
- Monetary policy: Substantial tightening by the Central Bank of Nigeria in 2011.
- Fiscal policy: Modest consolidation in 2011 as a response to monetary tightening and moderating food prices.
- Financial sector: Continued improvement in bank stability noted.

### Policy implications and recommendations
- Maintain policies that safeguard macroeconomic stability.
- Pursue measures to ensure inclusive growth alongside countercyclical policies.

### Publication and metadata
- Publication title: Nigeria: Staff Report for the 2011 Article IV Consultation.
- Series: Country Report No. 2012/194.
- Volume: 2012.
- Issue: 194.
- Pages: 80.
- DOI: https://doi.org/10.5089/9781475506679.002
- Stock No: 1NGAEA2012001
- ISBN: 9781475506679
- ISSN: 1934-7685
- Subject: Energy subsidies, Expenditure, External debt, Oil prices, Oil, gas and mining taxes, Prices, Public debt, Taxes.
- Keywords: authority, CR, gas and mining taxes, gas GDP, Global, inflation expectation, ISCR, Oil, Oil prices, policy issue, policy objective, price, real GDP, stance of the government, state power company.

*Source: Nigeria: Staff Report for the 2011 Article IV Consultation (IMF Staff Country Reports, 2012, 194).*

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## Content in this bundle

- **Nigeria: 2012 Article IV Consultation; IMF Country Report No. 12/194; February 8, 2012**
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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/nigeria-staff-report-for-the-2011-article-iv-consultation-26098_