IMF Staff Country Reports

Nigeria has implemented major reforms over the last 2 years which have
improved macroeconomic stability and enhanced resilience. The country successfully
tapped the Eurobond market and earned a credit rating upgrade, pointing to improved
confidence. Growth has been steady but too low in per-capita terms, and inflation
remains high. Gains have yet to benefit all Nigerians. Food insecurity and poverty have
risen. Half-way through its term, the government is now focused on raising growth, while
adapting to the spillovers from the changing global environment.