Economic experts have thrown their weight behind the International Monetary Fund’s cautionary stance on Nigeria’s reform agenda, warning the Federal Government against reversing key economic policies as political pressure mounts ahead of the next election cycle.
The experts cautioned that any compromise on reforms could weaken investor confidence, stall recent gains in inflation moderation, and further strain an economy already constrained by limited fiscal buffers. They stressed that sustaining reforms remains critical to ilising the macroeconomic environment and positioning the country for long-term growth.
Speaking at the 2026 Macroeconomic Outlook event organised by the Nigerian Economic Summit Group in Lagos, the IMF’s Country Representative for Nigeria, Dr Christian Ebeke, warned that reversing recent reforms would erode hard-won macroeconomic gains. While acknowledging progress, he noted that Nigeria’s reform journey was far from complete, as inflation remains in double digits, limiting policy flexibility.
Ebeke cautioned against renewed government intervention in price and volume controls, describing such measures as unsustainable. He also identified complacency as a major risk, particularly at the subnational level, where states now enjoy increased fiscal space. According to him, pro-cyclical spending by state governments in the build-up to elections could reverse gains achieved through recent reforms.
He further warned against policy-induced or “home-grown” volatility, noting that a return to exce rate controls would deplete foreign reserves, distort market signals, and damage investor confidence.
Echoing these concerns, the Chairman of the Nigerian Economic Summit Group, Niyi Yusuf, stressed that Nigeria must consolidate reform gains rather than abandon the process. While noting improved macroeconomic ility, he said growth remained modest and uneven, with limited impact on employment and household incomes.
Investment banker and economist, Tilewa Adebajo, also warned that political considerations must not derail reforms, stressing that sustainable growth and restored purchasing power depend on consistency, private sector investment, and sound government policies.
I dont know, man. Are we really sure these experts are always right? Maybe we need a different perspective.
I believe its crucial for the government to prioritize long-term reforms over short-term gains, especially with elections looming. ility is key!
I dont know, man. Politics is so messy. But maybe ility is key? What do you all think?
I think its crucial for the government to prioritize long-term development over short-term gains, especially during election seasons.
Why cant the government just stick to good policies? Its like taking one step forward and two steps back!
Im all for progress, but can we trust politicians to uphold reforms amidst election pressures? Skeptical yet hopeful!
I disagree, reforms can be beneficial but blindly following them without considering the current situation could be risky.
I dont agree with the experts. Elections should bring ce, not sustain the status quo. Lets shake things up!
I think its crucial for the government to prioritize long-term reforms over short-term gains, especially with elections looming. Lets hope they heed the experts warnings.