The Federal Government has welcomed the International Monetary Fund’s (IMF) 2026 Article IV Mission Concluding Statement on Nigeria, describing the report as a strong endorsement of the country’s ongoing economic reform agenda.

In a statement issued on June 9, 2026, the government said the IMF’s assessment provides independent validation that reforms introduced under President Bola Ahmed Tinubu’s administration are helping to strengthen macroeconomic stability, restore investor confidence, and position the economy for sustainable growth.

According to the government, the IMF acknowledged that reforms implemented over the last three years have improved Nigeria’s economic resilience and ability to withstand external shocks. The Fund highlighted progress in foreign exchange market operations, stronger external reserves, fiscal and revenue reforms, banking sector stability, and broader macroeconomic improvements.

The statement noted that these developments demonstrate that Nigeria is on a more stable economic path and is better prepared to navigate global economic uncertainties than it has been in recent years.

The Federal Government expressed satisfaction with the IMF’s recognition of key policy decisions, including the removal of fuel subsidies, the end of deficit monetisation, foreign exchange market liberalisation, and efforts to strengthen fiscal discipline.

According to the statement, these measures have helped reduce economic vulnerabilities and rebuild confidence in Nigeria’s economy.

The government also referenced the recent conflict in the Middle East, which has contributed to rising global energy and food prices, tighter financial conditions, and disruptions to international supply chains.

Despite these challenges, the IMF reportedly acknowledged Nigeria’s resilience, noting that the country has maintained relative stability. The government highlighted that the foreign exchange parallel market premium has remained below five per cent, sovereign spreads have stayed largely stable, and investor confidence has been preserved despite global economic pressures.

The IMF further observed that Nigeria stands to benefit from higher global energy prices through increased export earnings, stronger fiscal revenues, and improved foreign exchange inflows.

The Federal Government said it remains focused on turning these opportunities into long-term economic gains by boosting crude oil production, expanding local refining capacity, increasing gas production and exports, and attracting fresh investments across the energy sector.

While welcoming the IMF’s positive outlook, the government acknowledged the Fund’s concerns about poverty and food insecurity.

The statement noted that although per capita income reportedly grew by nearly 10 per cent in 2025—an indication of progress in reducing poverty—the administration recognises that economic stability alone is not enough.

It stressed that growth must be inclusive and deliver meaningful improvements in the lives of Nigerians.

To address these concerns, the government said it is strengthening targeted social intervention programmes, including direct cash transfers for vulnerable households, support for small businesses, student financing through the Nigerian Education Loan Fund (NELFUND), consumer credit initiatives, healthcare investments, and programmes aimed at creating economic opportunities.

In the agricultural sector, the government said it is expanding investments through the Renewed Hope National Agricultural Mechanisation Programme and other initiatives designed to improve productivity, strengthen irrigation systems, support dry-season farming, improve access to financing and inputs, develop agricultural value chains, and enhance food security.

These measures, according to the statement, are expected to help moderate food inflation, create jobs, and increase rural incomes.

The Federal Government also welcomed the IMF’s recognition of progress in domestic revenue generation and public financial management reforms.

It highlighted the implementation of new tax laws, digitalisation of revenue collection processes, improved transparency in public finance management, and enhanced accountability mechanisms as key reforms that will strengthen fiscal sustainability and create a more efficient tax system.

Responding to recommendations made by the IMF regarding fiscal reporting and budget transparency, the government said steps are already being taken to improve fiscal data integrity, strengthen coordination among relevant institutions, enhance transparency in budget implementation, and deepen public financial management reforms.

Efforts are also ongoing to improve fiscal reporting systems and ensure that Nigeria’s economic and fiscal statistics meet international standards.

Looking ahead, the government noted that the IMF projects continued economic growth above four per cent, stronger external reserves, increased investment, and improved fiscal revenues over the medium term.

The statement added that public debt has already declined relative to GDP, while reserve buffers have strengthened significantly.

According to the government, these developments, alongside recent sovereign credit rating upgrades by international rating agencies, reflect the growing resilience of Nigeria’s economy and the positive impact of ongoing reforms.

The Federal Government reaffirmed its commitment to maintaining macroeconomic stability, promoting inclusive growth, strengthening fiscal discipline, deepening structural reforms, improving the investment climate, expanding infrastructure, enhancing human capital development, and creating jobs.

It also pledged to continue implementing policies that support private sector growth, attract local and foreign investments, and improve the competitiveness of the Nigerian economy.

While acknowledging that challenges remain, the government maintained that the country’s economic direction is clear and that stronger foundations are being built for long-term prosperity.

“The ultimate objective of these reforms is not merely improved economic indicators, but better outcomes for all Nigerians – lower inflation, decent jobs, higher incomes, greater economic opportunity, and a better quality of life.”

The statement was signed by Taiwo Oyedele, Honourable Minister of Finance and Coordinating Minister of the Economy, Federal Republic of Nigeria.

A group of young Nigerians on Tuesday took to the streets of Abuja to protest the growing insecurity across the country, urging the Federal Government and security agencies to take decisive action against banditry, terrorism, and kidnapping.

Operating under the banner “Nigerians Unite Against Terror,” the demonstrators marched peacefully from the Federal Ministry of Women Affairs to the National Assembly, carrying placards and singing solidarity songs as they called for stronger measures to tackle the security crisis.

Speaking to journalists at the National Assembly complex, the convener of the protest, Isah Abubakar, said insecurity has become a national challenge that affects all Nigerians regardless of political affiliation or religion.

“There are major highways where, after 5 p.m., people are afraid to travel. Those who are trapped, kidnapped, or killed are not just members of APC, PDP or any other party — they are Nigerians,” he said.

Abubakar noted that while the protection of lives and property remains the government’s primary responsibility, achieving lasting security requires collective participation from citizens and authorities alike.

“We have a right and a duty to demand accountability from those charged with our safety. We need real, proactive measures to protect our children, keep women safe in their homes and farms, and reclaim our rural communities from criminals.

“The citizens who are trapped, kidnapped or killed on these roads are not just members of one political party or another; they are Nigerians. The bandits do not care about your religion, tribe, political party or background. This is a collective tragedy affecting us all,” he added.

He called on security chiefs and lawmakers to act with urgency and commitment while encouraging Nigerians to work alongside government efforts to restore peace across the country.

Another protest leader, Austin Okai, urged retired military officers and former security chiefs to contribute their experience and expertise toward addressing Nigeria’s security challenges.

“We are calling on our former military and security leaders to step forward and collaborate. We must secure the country first before we can talk about politics,” Okai said.

He warned that continued insecurity could negatively impact democratic processes and political activities nationwide.

“No political party can successfully hold a rally or mobilise voters if the people they are gathering cannot return to their homes safely,” he said.

Okai stressed that insecurity transcends political divisions and requires a united national response.

Referencing the recent abduction of a political party chairman in Kebbi State, he argued that criminal groups pose a threat to everyone regardless of status or affiliation.

He also urged the National Assembly to strengthen oversight of security spending and ensure accountability in the management of public funds allocated to security agencies.

“The National Assembly has a constitutional mandate to demand strict accountability. That is the essence of democratic checks and balances,” he stated.

While advocating security sector reforms, Okai cautioned against creating state police and forest guard systems without proper planning, funding, training, and equipment.

“The only leverage these bandits have over our communities is their weaponry. If we create state police or forest guards but fail to train and arm them properly, we are sending them to their deaths,” he said.

He maintained that any move to decentralise policing must be backed by modern equipment, professional training, and effective coordination with federal security agencies.

“If we are going to establish state police and forest guards, there must be rigorous training, standardised modern weaponry and seamless synergy with federal security agencies,” Okai added.

The protest ended peacefully after representatives of the National Assembly received a petition from the demonstrators and assured them that their concerns would be forwarded to the leadership of both legislative chambers for consideration.

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have warned that they may resort to a nationwide strike if the worsening security situation across the country is not urgently addressed by the Federal Government.

The warning was issued on Monday, June 8, 2026, by NLC President, Joe Ajaero, during the ongoing 114th International Labour Conference (ILC) in Geneva, Switzerland.

However, the labour centres did not announce a specific date for any industrial action, meaning no strike has been fixed for June 13 or any other date at the moment. The unions stated that a nationwide shutdown remains an option if insecurity continues to escalate without a decisive government response.

Why NLC And TUC Are Threatening A Nationwide Strike

According to the labour unions, the increasing cases of terrorism, banditry, kidnappings and violent attacks across Nigeria have become a direct threat to workers’ safety, livelihoods and productivity.

Speaking on the situation, the labour leaders stressed that many Nigerians now go to work daily without any assurance of returning home safely.

The unions argued that the persistent security crisis has disrupted economic activities, affected workers across different sectors and worsened the hardship faced by ordinary citizens.

They warned that organised labour may be compelled to take drastic action if authorities fail to demonstrate stronger commitment to protecting lives and property.

The labour movement maintained that meaningful economic growth and improved welfare for workers cannot be achieved while communities remain under constant threat from criminal groups and armed attackers.

Labour Demands Fresh Minimum Wage Negotiations

Beyond concerns about insecurity, the NLC and TUC also called on the Federal Government to begin preparations for the renegotiation of the National Minimum Wage ahead of the next review expected in July 2027.

The labour centres rejected suggestions that a new minimum wage should simply be legislated without consultations, insisting that any adjustment must emerge through negotiations involving workers and relevant stakeholders.

They also dismissed claims that discussions were already ongoing around a proposed ₦100,000 minimum wage, describing such reports as inconsistent with the current state of negotiations on workers’ welfare.

While no strike date has been officially announced, the labour unions reiterated that they would continue to monitor developments and could escalate their response if insecurity and workers’ welfare concerns remain unresolved.

President Bola Tinubu on Monday received the President of Madagascar, Michael Randrianirina, during an official visit to Nigeria.

Randrianirina was welcomed by President Tinubu at the Presidential Villa in Abuja as part of ongoing diplomatic engagements between both countries.

The visit marks one of the notable high-level meetings involving the Madagascan leader since assuming office in 2025.

Randrianirina, a former army colonel, was sworn in as Madagascar’s president in October 2025 following a dramatic political transition that saw former president Andry Rajoelina leave office amid a military-backed takeover.

Before becoming president, Randrianirina led the CAPSAT army unit, which mutinied and aligned with anti-government protesters during the political crisis. The military later announced it had assumed control after Rajoelina was impeached on allegations of desertion of duty.

Following the change in government, Randrianirina emerged as the country’s leader and was subsequently sworn into office.

His meeting with President Tinubu is expected to further strengthen diplomatic relations and cooperation between Nigeria and Madagascar.