Reforms fail to lift Nigeria’s manufacturing beyond 9% GDP in 10 years

The International Monetary Fund (IMF) has urged Nigeria and other major African economies to deepen reforms in fiscal policy, monetary and financial sectors, and governance to strengthen macroeconomic stability and support inclusive growth. The IMF identified fiscal reforms as a high priority for all but one of the eight economies reviewed, with Nigeria among those requiring improvements in tax policy, revenue administration, public financial management, and spending efficiency.

Additionally, strengthening monetary policy frameworks and transmission were identified as priorities for Nigeria, Egypt, and Ethiopia, while governance reforms should focus on greater fiscal transparency, stronger public financial management, and improved anti-corruption practices. The IMF's recommendations come as Nigeria continues to implement a broad tax reform programme and as the Central Bank of Nigeria has been pursuing tighter monetary and liquidity conditions.

Brief written by urgent.news from Nairametrics's own syndicated text. Machine-written — may contain errors; check the original before relying on it.