• About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, October 3, 2025
  • Login
  • Cover
  • News
  • Politics
  • Business
  • Security
  • Entertainment
  • World
  • Sports
  • Editorial
  • Interview
No Result
View All Result
Newsdesk Africa
Advertisement
  • Cover
  • News
  • Politics
  • Business
  • Security
  • Entertainment
  • World
  • Sports
  • Editorial
  • Interview
No Result
View All Result
Newsdesk Africa
No Result
View All Result
Home Business

IMF expresses worry over high inflation in Nigeria, proffers solution

Our Reporters by Our Reporters
September 17, 2022
in Business
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The International Monetary Fund (IMF) has called for a stronger operational framework and price stability to combat inflation in Nigeria.

The IMF Resident Representative for Nigeria, Mr Ari Aisen, said this in his keynote address at the Financial Markets Dealers Association’s (FMDA) quarterly meeting on Friday in Lagos.

The FMDA quarterly meeting with the theme: “Nigeria Macroeconomic Developments and Outlook: IMF View,” was hosted by the First Bank of Nigeria Ltd.

Aisen said focusing on price stability was needed to tackle the country’s high inflation.

Speaking on the IMF policy recommendations to safeguard financial stability, he stressed the need for regulatory vigilance and timely actions against undercapitalised banks.

According to him, the introduction of additional macro prudential instruments are essential for financial stability.

He expressed concern over the structural challenges in Nigeria, noting that more efforts were needed to reduce corruption vulnerabilities.

Aisen called for improvement in government efficiency, initiating civil service reforms and ensuring accountability of COVID-19 spending.

He said, “more domestic revenue mobilisation is needed to reduce fiscal vulnerabilities and create policy space.”

Aisen urged the Federal Government to ensure permanent removal of fuel subsidies in line with the Petroleum Industry Act to boost revenue.

He, however, said compensatory measures for the poor should be in place to mitigate the effects of subsidy removal.

On exchange rate, Aisen called for a unified and market-clearing exchange rate to strengthen the external reserve.

This, according to him, will be achieved through complementary macro-economic structural policies to preserve competitiveness gains from any exchange rate adjustment.

He noted that the COVID-19 and Russian/Ukraine war had affected food prices all over the world.

Aisen said these developments had called for bold trade and agricultural reforms for inclusive recovery.

FMDA is the principal interface with the monetary authorities through policy advocacy and engagement aimed at promoting sound markets and ethical conducts comparable to international standards.

It has the ultimate objective of facilitating liquidity, transparency and price discovery and engendering market deepening.(NAN)

Previous Post

Reno Omokri in identify theft scandal, criminal offence in US – Dr. Charles

Next Post

Appeal Court hears Umahi-Agom Eze Senatorial tussle

Next Post

Appeal Court hears Umahi-Agom Eze Senatorial tussle

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

https://youtu.be/FHyJ1Wr0FAk?si=0WVYI_2OR4OrIrQ4
https://youtu.be/gbE3azm_Io0?si=GdE3Mqelo1ujTNla
Soldiers arrest fake policemen, seize Hilux trucks loaded with 1,134 blocks of Cannabis in Taraba
Crime

Soldiers arrest fake policemen, seize Hilux trucks loaded with 1,134 blocks of Cannabis in Taraba

by Ezechukwu Malachy
October 2, 2025
0

Troops of the 6 Brigade Nigerian Army, Sector 3 of Operation Whirl Stroke (OPWS), in collaboration with operatives of the...

Read moreDetails
Death sentence: It’s fake news – Ikpeazu says

Death sentence: It’s fake news – Ikpeazu says

October 2, 2025
65th Independence: Gov. Yusuf seeks redeployment of Kano CP after police boycott

65th Independence: Gov. Yusuf seeks redeployment of Kano CP after police boycott

October 2, 2025
15 men robbed 18 flats in 15 minutes — Neighbour of late Arise News presenter, Sommie

15 men robbed 18 flats in 15 minutes — Neighbour of late Arise News presenter, Sommie

October 2, 2025
What Sin Did H.E (Late) Chief C.C Onoh Commit Against Enugu, Ebonyi States?

What Sin Did H.E (Late) Chief C.C Onoh Commit Against Enugu, Ebonyi States?

October 2, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

Copyright© 2022-2025 Newsdesk Africa Published by Glossy Affairs Ltd. Tel: +2348152359152. Email: info@newsdeskafrica.com.ng editor@newsdeskafrica.com.ng

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Homepage

Copyright© 2022-2025 Newsdesk Africa Published by Glossy Affairs Ltd. Tel: +2348152359152. Email: info@newsdeskafrica.com.ng editor@newsdeskafrica.com.ng