₦airaland Forum

The World Bank Group and International Monetary Fund have told the Central Bank of Nigeria how to win a fight aimed at tackling the country’s inflation.


This comes as the World Bank and IMF said the apex bank must stick to orthodox methods of tackling inflation, which stood at 34.80 percent in December 2024.

The Senior Economist for Nigeria, World Bank Group, Dr. Sameer Matta, and Nigeria Country Representative, International Monetary Fund, Dr. Christian Ebeke, made this known at the launch of the 2025 Macroeconomic Outlook of the Nigerian Economic Summit Group themed: ‘Stabilisation in Transition: Rethinking Reform Strategies For 2025 and Beyond.’


Speaking during a panel session at the event, Matta said, “I think what is critical in terms of inflation is to stay the course.

“I think that the central bank needs to continue to be focused on making sure that inflation is under control. Obviously, part of it is related to the supply side.

“What can be done to improve the yield on the agriculture side? What can be done to improve the link between the rural areas and the urban areas?


“There is the question of what can be done on the trade policy side. One would be to increase production locally, but that would take time.

“One of the things that can be done on the trade policy side is to think through which sectors could be targeted to allow some tariffs to be adjusted.”

On her part, Ebeke reinstated calls for coordination between the fiscal and monetary authorities.


He said, “It’s important that efforts to bring inflation down by the fiscal authorities are being done in the context of better coordination.

“For example, one of the key decisions that took place last year was the commitment by both the central bank and the fiscal authorities to strengthen coordination.

“We didn’t see Ways and Means accrue again as we have seen in the past year in Nigeria, and it was welcome.


“This is something that should bring inflation down by tightening financial conditions but also by reducing money in circulation.”

“The other important thing for the fiscal authorities to do is to tackle any distribution consequences of the reforms that have been implemented,” Ebeke said.

DAILY POST reports that since the Central Bank of Nigeria Governor, Olayemi Cardoso assumed office, the Monetary Policy Committee has continued to raise interest rate aimed at tackling inflation.

Nigeria’s interest rate was raised from 18.75 percent at the end of 2023 to 27.50 percent in November, 2024.

While CBN believed its efforts were yielding results, financial experts such as the Centre for Promotion of Private Enterprise have called for a pause.

https://dailypost.ng/2025/01/26/what-cbn-must-do-to-win-fight-against-rising-inflation-world-bank-imf/

Empty brains that found their ways into Federal government office are dependent of IMF and World bank to pull them by the nose and teach them economics 101 that some of learnt in primaryschool?

Chicago accountancy first class graduate o

Chief accountant for Shell

He even built Lagos

Production is 95% of the solution. All those fiscal manoeuvre are just jara(extras).

Standing5:
Production is 95% of the solution. All those fiscal manoeuvre are just jara(extras).

You expect someone who has never owned a business in his life before to produce something as president?

Nigeria is a funny place

PresidObi:
You expect someone who has never owned a business in his life before to produce something as president?

Nigeria is a funny place

..he is just as clueless as another who can only invest in beer.

He didnt see renewable energy or agric or healthcare or robotics to invest in. It was a beer business.

Standing5:
...almostas clueless as another whi can only invest in beer.

He didnt see renewable energy or agric or healthcare or robotics to invest in. It was a beer business.

Business is business, as long as people are consuming your products and you're making profits

The worst is someone who knows he cannot set up anything, cannot sustain anything, but still fought to lead you and you're supporting him even as you're surely dying of hunger

Any expert that doesn't see naira devaluation and petrol subsidy removal as the root causes of the high inflation is a dumb expert.

mrvitalis:
The only solution is inflation was what Peter Obi said in 2019

Borrowing to build infrastructure would make it worse ( we have been doing that since 2015 ... Don't you guys have sense)

They don't have even an iota of sense

PresidObi:
They don't have even an iota of sense

Makes no sense how someone did the same thing for 8 years your economy shrinked

You double down and still doing same thing..

Borrow do road, do rail, build bridges they find money to pay back the loan for this project that has near zero economic value by devaluing naira

It makes zero sense

No rail project in nigeria today does 50% of its running cost in revenue...

I understand APC don't have knowledge of economics... But if your policy is not working the seek a consultant na for 20 million dollars you can get 5 sound developmental economics professors to guide your economic decisions

MasterJayJay:
Any expert that doesn't see naira devaluation and petrol subsidy removal as the root causes of the high inflation is a dumb expert.

Petrol is still on subsidy oga.. No subsidy was removed

Oga the thing with economics is you can't reverse decision and it goes back to normal... It's like a broken glass you can't glue it together again... The deed has been done already

Solution is what they are offering

Standing5:
..he is just as clueless as another who can only invest in beer.

He didnt see renewable energy or agric or healthcare or robotics to invest in. It was a beer business.

Which beer business. Is obi the owner of intercontinental brewery. If obi built the brewery in Onitsha, who built the ones in ilesha and sagamu.

PresidObi:
You expect someone who has never owned a business in his life before to produce something as president?

Nigeria is a funny place

We would have voted Obituary the major importer to tackle the local production 😁😁

I didn't hear from consumer to production from Pandora Obituary again 😁😂

IMF again with their voodoo economics. Tpain and his crew must be careful in lapping up whatever advice these ones dish out because their advice taken by clueless builders brought us this low.