Nigeria: Staff Report for the 2011 Article IV Consultation

July 24, 2012

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Format: Chicago

Nigeria: Staff Report for the 2011 Article IV Consultation, (USA: International Monetary Fund, 2012) accessed November 29, 2024

Summary

The Nigerian economy remained strong, with a non-oil real GDP of 8.3 percent and an overall real GDP of 6.7 percent. A modest fiscal consolidation took place in 2011 as a response to the substantial monetary tightening by the Central Bank of Nigeria and moderation of food prices. Banks showed continued improvement in financial stability. Executive Directors commended the authorities for countercyclical policies. However, they emphasized the need for policies that safeguard macroeconomic stability and ensure inclusive growth.

Subject: Energy subsidies, Expenditure, External debt, Oil prices, Oil, gas and mining taxes, Prices, Public debt, Taxes

Keywords: Authority, CR, Gas and mining taxes, Gas GDP, Global, Inflation expectation, ISCR, Oil, Oil prices, Policy issue, Policy objective, Price, Real GDP, Stance of the government, State power company

Publication Details

Pages:

80
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/194
Stock No:

1NGAEA2012001
ISBN:

9781475506679
ISSN:

1934-7685

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