Presidency Slams IMF for ‘Harsh’ Critique of Nigeria’s Reforms, Defends Tinubu’s Economic Progress

On Tuesday, July 8, 2025, Tope Fasua, Special Adviser to President Bola Tinubu on Economic Affairs, sharply criticized the International Monetary Fund (IMF) for its “overly critical” and “fatalistic” assessment of Nigeria’s economic reforms, as outlined in the IMF’s July 2025 report, “How Nigeria Can Unleash Its Economic Potential.” Speaking on Channels Television’s The Morning Brief, Fasua accused the IMF of “heckling” Nigeria with frequent statements that risk destabilizing public confidence and pitching citizens against the government. The IMF report highlighted persistent challenges, including 20.2% inflation (down from 33.9%, NBS April 2025), a 42% poverty rate, and weak infrastructure, despite acknowledging progress like increased international reserves, a return to capital markets in December 2024, and the impact of Dangote Refinery in a deregulated market. Fasua defended Tinubu’s reforms, including fuel subsidy removal, forex market liberalization, and four tax reform bills signed in June 2025, which doubled tax thresholds for small businesses and offered relief to low-income earners