
The Digest:
The International Monetary Fund (IMF) has expressed significant concern that Nigeria's ongoing economic reforms, despite some progress, have yet to reach the most vulnerable populations, citing a critical lack of a robust social safety net.
Key Points:
- IMF highlights Nigeria's lack of a robust social safety net.
- Reforms' impact yet to reach the poor, increasing poverty risk.
- Poverty rate stood at 42% in 2023.
- Bold reforms (FX, subsidy removal) yield mixed results.
- Inflation, poor infrastructure still hinder growth.
- IMF urges urgent cash transfer expansion for the vulnerable.
- Calls for increased revenue and transparent budgeting.
Sources: Punch Newspaper, IMF Website