Would you like to receive notifications on latest updates of the following headlines?

FG urges IMF, World Bank to bolster economic reforms in sub-saharan Africa

POSTED ON April 24, 2025 •   Business      BY Abiodun Saheed Omodara
Finance Minister Wale Edun

Finance Minister Wale Edun has emphasized the need for increased global assistance to reform economies.

Edun made this appeal on Wednesday during the G-24 Ministerial Meeting held alongside the ongoing 2025 IMF World Bank Spring Meetings in Washington, D.C. 

He urged the IMF and World Bank to support reform-oriented economies, especially in Sub-Saharan Africa, by enhancing access to affordable financing and employing more innovative strategies for their transitions.

Additionally, Edun welcomed the IMF's recent creation of a third chair for Sub-Saharan Africa and called for greater African representation in senior management roles within the Bretton Woods institutions.

He stated that the country is open for business and that the reforms would yield their maximum effect.

The minister expressed, “We require the international community to align their support with our ambitious plans."

Edun reiterated President Bola Tinubu’s firm commitment to structural reforms, the elimination of fuel subsidies, unification of foreign exchange, and comprehensive tax reforms.

He highlighted the president’s focus on restoring macroeconomic stability and creating a more resilient and inclusive economy.

READ ALSO
JUST IN: Dangote refinery slashes petrol prices by N15 nationwide
BY Abiodun Saheed Omodara May 22, 2025 0

LAGOS, Nigeria — The Dangote Petroleum Refinery recently announced a reduction in the pump pri...

READ ALSO
Sanwo-Olu Advocates for Innovation, Accountability in Economic Policies
BY Abiodun Saheed Omodara May 22, 2025 0

LAGOS, Nigeria - Lagos State Governor Babajide Sanwo-Olu has stated that Nigeria must hasten its pro...

READ ALSO
CBN's Rigid Monetary Policies Threaten Nigeria's Industrialization Efforts
BY Abiodun Saheed Omodara May 22, 2025 0

With the Central Bank of Nigeria (CBN) keeping the benchmark interest rate at 27.5 percent, local ma...

READ ALSO
FG to Auction 753 Housing Units Recovered from Ex-CBN Governor Emefiele
BY Abiodun Saheed Omodara May 20, 2025 0

ABUJA, Nigeria - The Federal Government has declared its intention to sell 753 housing units that we...

READ ALSO
CBN Holds Interest Rate Steady at 27.50% Amid Inflation Concerns and Economic Recovery Efforts
BY Abiodun Saheed Omodara May 20, 2025 0

ABUJA, Nigeria — The Central Bank of Nigeria (CBN) has once again held its benchmark inte...

READ ALSO
CBN Stresses Commitment to Protecting Financial Interests of Nigerians
BY Abiodun Saheed Omodara May 20, 2025 0

The Central Bank of Nigeria (CBN) has assured the public, depositors, and stakeholders that the Nige...

READ ALSO
Australia's Central Bank Cuts Interest Rate to 3.85% Amid Global Tariff Uncertainty
BY Abiodun Saheed Omodara May 20, 2025 0

On Tuesday, Australia’s central bank reduced its main interest rate to its lowest level in two...

READ ALSO
Fuel Prices: Dangote Refinery Credits Naira-for-Crude Initiative for Economic Relief
BY Abiodun Saheed Omodara May 20, 2025 0

The Dangote Petroleum Refinery has announced that the naira-for-crude arrangement enabled it to lowe...

OUR CHANNELS:

NNPCL Empowers 531 NYSC Members with Financial Support and Starter Packs
BY Abiodun Saheed Omodara May 24, 2025 0

The Nigeria National Petroleum Company Limited has provided financial assistance of N531,000 each to...


University of Lagos Addresses NELFund Loan Reimbursement Concerns
BY Abiodun Saheed Omodara May 24, 2025 0

The University of Lagos has refuted online claims regarding the delay in the reimbursement of NELFun...


Nigerian Man Sentenced to 27 Months for $1 Million Insurance Fraud
BY Abiodun Saheed Omodara May 24, 2025 0

A 37-year-old Nigerian named Henry Ezeonyido has been sentenced to 27 months in prison by a United S...


INEC Launches AI Division to Enhance Electoral Processes, Address Challenges
BY Abiodun Saheed Omodara May 24, 2025 0

ABUJA, Nigeria - The Independent National Electoral Commission (INEC) has sanctioned the establishme...


APC Governors Unite to Endorse President Tinubu as 2027 Consensus Candidate
BY Abiodun Saheed Omodara May 24, 2025 0

Governors affiliated with the ruling All Progressives Congress have unanimously backed President Bol...


JUST IN: Tinubu Inaugurates New NNPC Board, Welcomes Fresh Leadership
BY Abiodun Saheed Omodara May 24, 2025 0

ABUJA, Nigeria - President Bola Tinubu has officially inaugurated the board and management of the Ni...


JUST IN: Dangote refinery slashes petrol prices by N15 nationwide
BY Abiodun Saheed Omodara May 24, 2025 0

LAGOS, Nigeria — The Dangote Petroleum Refinery recently announced a reduction in the pump pri...


LASG Allocates N1.6Bn to Support Vulnerable Residents in 2025
BY Abiodun Saheed Omodara May 24, 2025 0

LAGOS, Nigeria - Dedicated to alleviating the challenges faced by underprivileged residents of Lagos...


Sanwo-Olu Advocates for Innovation, Accountability in Economic Policies
BY Abiodun Saheed Omodara May 24, 2025 0

LAGOS, Nigeria - Lagos State Governor Babajide Sanwo-Olu has stated that Nigeria must hasten its pro...


FG advocate for BASA agreement between Nigeria, Italy
BY Abiodun Saheed Omodara May 24, 2025 0

The federal government (FG) has emphasised the importance of reviving the Bilateral Air Services Agr...


More Articles

Load more...

Menu