BMO hails IMF’s rare praise for Nigeria’s economy after quick exit from recession

The Buhari Media Organisation (BMO) has hailed what it described as a rare positive review of Nigeria’s economic policies by the International Monetary Fund (IMF).

BMO said in a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke that it is yet another proof that the President Muhammadu Buhari’s administration is doing something right on the economic front.

“It is not every time that a country like Nigeria gets such commendation from a body like IMF which is quite stingy with praises.

“This is why many were pleasantly surprised to hear the Washington, USA-based organisation acknowledging that the government’s policies were instrumental to the country’s swift exit from recession in the last quarter of 2020, in its preliminary findings at the end of an official visit to Nigeria.

“We see it as an endorsement of steps the Buhari administration has been taking on the economy, contrary to the jaundiced opinions of some individuals and groups,” it said.

BMO also acknowledged IMF’s position on the need for more reforms in fiscal policies, exchange rate management, trade and governance.
“It is quite clear that there are still challenges that need to be surmounted, and we dare say that the Buhari administration has never said everything is rosy.

“As for IMF’s demand for the complete removal of fuel and electricity subsidies early next year, Nigerians know that they have a President who will not willingly subject them to hardship.

“We are convinced that he will take the best decision in national interest as he has always done,” it said.

BMO urged Nigerians to continue to support the Buhari administration in its bid to build a more resilient economy.