The International Monetary Fund (IMF) has advised Nigeria to enhance efficiency in government spending and improve revenue mobilization to manage its rising debt burden and economic uncertainties.

Speaking at the Spring Meetings of the IMF and World Bank in Washington, Davide Furceri, Deputy Division Chief in the IMF’s Research Department, emphasized the need for stronger fiscal discipline, targeted investments, and social spending.

The IMF’s April 2025 Fiscal Monitor projects Nigeria’s debt-to-GDP ratio will decline from 52.9% in 2024 to 45.4% by 2030.

However, the Fund warned that global debt pressures—exacerbated by trade tensions—require countries like Nigeria to adopt prudent, transparent, and targeted fiscal strategies.

Furceri stressed the importance of building strong fiscal institutions and frameworks to ensure stability and reduce uncertainty.