President Bola Tinubu has reiterated his administration’s resolve to prioritise social investment programs to safeguard the welfare of Nigeria’s vulnerable populations amid ongoing economic reforms.
He made this assurance during a courtesy visit from International Monetary Fund (IMF) Managing Director Kristalina Georgieva on the sidelines of the G20 Leaders’ Summit in Rio de Janeiro, Brazil.
Acknowledging the challenges posed by the reforms, Tinubu expressed his determination to cushion their impact while ensuring long-term benefits.
He highlighted social safety nets and educational access as critical tools to reduce poverty and improve opportunities for underprivileged children.
“We have started seeing positive results from our reforms, and the Nigerian people now understand the need for them, but we have to reduce the hardship that has resulted from the implementation,” the President said.
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Tinubu also discussed his administration’s efforts to expand Nigeria’s tax base without overburdening citizens, seeking the IMF’s technical support to achieve sustainable economic growth.
Georgieva commended Nigeria’s economic reforms, noting their positive indicators and pledging continued IMF support for diversification and social programs.
She praised the Tinubu administration’s focus on education and social investments, assuring technical assistance to maximize the impact of fiscal policies.
During the meeting, Georgieva emphasized the IMF’s commitment to helping emerging economies build resilience against global economic shocks.
She applauded Nigeria for hosting the IMF’s African Caucus in August and highlighted the recent approval of a third chair for Sub-Saharan Africa on the IMF Executive Board, a move to enhance the region’s representation.
The discussions underscored Nigeria’s push for economic stability, with Tinubu reaffirming his dedication to uplifting the poor and driving infrastructural development across the nation.
