Nigeria: Request for a Two-Year Policy Support Instrument

International Monetary Fund

No 2005/432, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents Nigeria’s Request for a Two-Year Policy Support Instrument to support its reform efforts. All three tiers of government have adhered to a conservative oil price-based fiscal rule, resulting in large overall budget surpluses and a significant buildup of international reserves. The authorities have also initiated a broad structural reform program. GDP growth has been robust, benefiting from the improved macroeconomic environment and policy initiatives to spur agricultural production; and the medium-term growth outlook is favorable.

Keywords: ISCR; CR; government; CBN bill; tariff reform; draft budget; overdraft facility; staff appraisal; Oil; gas and mining taxes; Fiscal stance; Currencies; Global (search for similar items in EconPapers)
Pages: 73
Date: 2005-12-19
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