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IMF to Nigeria: Your 2025 Budget Needs a Serious Rethink

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The International Monetary Fund (IMF) has urged the Federal Government to revise its proposed 2025 budget of ₦54.99 trillion, cautioning that the spending plan relies on overly optimistic oil price projections and may lead to a wider fiscal deficit if global economic conditions worsen.....KINDLY READ THE FULL STORY HERE▶

In its latest Article IV Consultation report released this week, the International Monetary Fund (IMF) commended Nigeria for recent macroeconomic reforms, including the elimination of fuel subsidies, the end of Central Bank financing of government deficits, and the liberalisation of the foreign exchange (FX) market. However, it warned that the positive momentum remains fragile and unevenly distributed among the population.

“The 2025 budget must be adjusted to reflect lower oil price projections,” IMF directors cautioned, warning that maintaining the current ₦54.99 trillion spending plan without revisions could push the fiscal deficit from 4.1% to roughly 4.7% of GDP. Such a shift, the IMF noted, would increase debt pressures and strain the exchange rate.

Oil continues to dominate Nigeria’s economic structure, accounting for most of its export earnings and fiscal revenues. While the country has seen a modest recovery—buoyed by improved oil output and a projected GDP growth rate of 3.4% in 2024—the IMF expressed concern over persistently weak per capita growth and dangerously high inflation.

“Growth remains steady, but insufficient on a per capita basis, and inflation is still elevated,” the report stated. Although inflation fell to 22.97% year-on-year in May 2025—down from an average of 31% in 2024—it remains one of the highest globally.

The IMF advised the Central Bank of Nigeria (CBN) to maintain a tight monetary policy stance until inflation shows consistent moderation, stressing the importance of positive real interest rates to anchor price stability and restore confidence in the naira.

On foreign exchange, the Fund acknowledged recent steps to enhance market liquidity and transparency but underscored the need for a clear, rule-based framework to manage volatility—particularly in light of Nigeria’s reliance on short-term capital inflows.

“The naira must continue to function as a shock absorber for external disruptions,” the IMF said, pointing out that FX reserves have risen, aided by a current account surplus and recent market stabilisation. Nonetheless, it warned that significant external rollover obligations call for agile and strategic FX management.

The report also called for sustained fiscal reforms. While praising recent tax measures and savings from subsidy removals, the IMF urged improvements in public spending efficiency, budget execution, and rapid deployment of targeted cash transfers to protect vulnerable Nigerians facing rising food insecurity.

In the financial sector, the Fund welcomed the CBN’s recapitalisation initiative and the adoption of Basel III standards but flagged concerns over emerging risks in high-growth segments like mortgage lending, fintech, consumer credit, and crypto-assets. It emphasised the need for stronger risk-based supervision in these areas.

Despite macro-level improvements, the IMF stressed that the economic rebound has yet to meaningfully improve living standards. It called for greater investment in infrastructure, education, healthcare, agriculture, and climate resilience, while urging immediate action to tackle food insecurity and deep-rooted poverty.

“The benefits of recent reforms have yet to reach all Nigerians,” the report concluded, calling for urgent efforts to address entrenched structural issues, including low agricultural productivity and ongoing security challenges.

As the government moves to finalise its 2025 budget, the IMF’s findings underscore the need for realistic planning, sound fiscal management, and inclusive policies that translate reforms into real gains for the Nigerian people.

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‘Kwankwaso Is More Experienced Than Peter Obi’ – Buhari’s Ex-Aide Declares.

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Ahmad made the assertion in a post on his X handle, maintaining that Kwankwaso’s decision to accept the position of running mate should be seen as an act of political modesty rather than an indication that he is less qualified than Obi.....KINDLY READ THE FULL STORY HERE▶

According to the former presidential aide, the relationship between the two politicians should be viewed as one of equals rather than that of a superior and a subordinate.

“To be entirely candid, the political dynamic between Rabiu Kwankwaso and Peter Obi ought to be characterised as one of collegiality between peers, rather than a hierarchy of principal and subordinate,” he wrote.

He added, “The choice to assume a deputy role beneath Obi ought to be interpreted as a testament to political modesty.”

Making a case for Kwankwaso’s political experience, Ahmad recalled that the former Kano State governor served as Deputy Speaker of the House of Representatives before Obi became a prominent figure in national politics.

He also noted that Kwankwaso governed Kano State, which he described as Nigeria’s most populous and politically influential state, for two terms and served as a federal minister.

“If we are assessing political experience, Sen. Kwankwaso probably has a longer and more impressive political background than Peter Obi,” Ahmad stated.

In contrast, the former presidential aide argued that Obi’s major public office experience was limited to his tenure as governor of Anambra State.

“Unlike other candidates, Peter Obi was just a former governor of Anambra State,” he wrote.

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‘I Have Stopped Impregnating Women’ – 2Baba Makes Shocking Revelation.

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Nigerian music star Innocent Idibia, popularly known as 2Baba, has declared that he no longer impregnates women.....KINDLY READ THE FULL STORY HERE▶

The singer made the statement on Saturday during a live performance at Rehab Lounge in Calgary, Canada.

While performing his hit song True Love, 2Baba paused to interact with the audience and playfully asked the women present to identify where his true love was.

He jokingly wondered whether she was standing at the back of the venue or somewhere in front of him before making a remark about his experiences with women.

The award-winning musician told the audience that he had stopped getting women pregnant, adding that he had been making the same confession wherever he performed recently.

He said, “For the purpose of this show, I will pretend like I’ve never seen anything before. Where’s my true love? Is she back there? Is she right here? Is she somewhere here? Where’s my true love? You people shouldn’t put out me for trouble.

“As I said, some ladies they fear to shout. See, everywhere I go these days, I make this confession. As I say, some ladies they fear to shout. I say, I don’t fear to shout. Because I don’t stop to dey give woman belle. Ask anyone, they’ll tell you, I don’t do such thing things again.”

The singer’s comment comes amid public interest in his personal life and relationships.

2Baba was previously married to Nollywood actress Annie Macaulay-Idibia. The couple announced their separation in January 2025 after having two children together.

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NPFL Cracks Down! Abia Warriors, Katsina United, Warri Wolves Hit With Sanctions.

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Abia Warriors were fined ₦3.2 million for failing to provide adequate security as agreed during the pre-match technical meeting ahead of their encounter with Niger Tornadoes.....KINDLY READ THE FULL STORY HERE▶

Abia Warriors were fined ₦3.2 million for failing to provide adequate security as agreed during the pre-match technical meeting ahead of their encounter with Niger Tornadoes.

The Umuahia-based club was also found guilty of an attempt by one of its officials to disrupt the live broadcast of the match by harassing a crew member of the league’s broadcast partner.

As part of the disciplinary measures, Abia Warriors’ multimedia officer, Chidera Favour Igwe, has been suspended from all NPFL match activities for five matches.

Katsina United, meanwhile, were fined ₦2 million for failing to provide adequate and effective security during their home fixture against Plateau United.

The club was also sanctioned for allowing supporters to encroach onto the field of play during the encounter.

Warri Wolves Receive Heaviest Punishment

Warri Wolves have been handed the most severe sanctions following the unruly behaviour of their supporters during Sunday’s Matchday 10 clash against Kano Pillars in Ozoro.

The Seasiders were fined ₦4.2 million and docked three points and three goals from their accumulated tally. The club was also ordered to play its next three home matches behind closed doors.

According to the NPFL, Warri Wolves failed to provide adequate security at the stadium, resulting in an assault on match officials after the final whistle.

The league further disclosed that the second assistant referee sustained a nose injury and was left bleeding during the incident.

The NPFL stated that all three clubs have 48 hours from the date of notification to appeal their respective sanctions in accordance with the league’s disciplinary procedures.

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