The International Monetary Fund (IMF) and the Federal Government of Nigeria have opened discussions in Abuja on the country’s ongoing economic reforms, medium-term outlook and preparations for the 2026–2030 National Development Plan (NDP).
In a landmark decision to fundamentally reshape the Federal Civil Service (FCS), the Federal Government approved the Rewards and Recognition Policy, Incentive and Consequence Management Policy, and Civil Service Mentoring Policy to boost productivity and enhance service delivery
The bilateral meeting at the weekend brought together the IMF delegation led by Mr Axel Schimmelpfennig, Assistant Director of the IMF’s African Department, and Minister of Budget and Economic Planning, Abubakar Bagudu.
The engagement formed part of the IMF’s consultative mission to review Nigeria’s fiscal priorities, macroeconomic framework, and reform direction ahead of its next country report.
Schimmelpfennig acknowledged Nigeria’s reform progress and expressed the Fund’s interest in understanding how the country’s medium-term strategy aligns with its development objectives.
“We would like to hear your thoughts on present developments — your outlook for the next year and the medium term,” he said. “We understand that you are preparing the medium-term framework, the NDP and the 2026 budget. Having your overall vision at this stage will be extremely helpful.”
Responding, Bagudu said the government remained committed to aligning fiscal reforms with national planning to promote coherence, efficiency and inclusive growth. He expressed appreciation for the IMF’s constructive engagement and technical assistance over the past two and half years.
According to Bagudu, Nigeria’s reform efforts under President Bola Tinubu had been driven by discipline, inclusion and transparency — principles that are beginning to yield measurable results.
The government’s strategic approval was granted during the Federal Executive Council (FEC) meeting presided over by Tinubu. The landmark development heralds a new era of performance-driven governance, strategic talent development, and enhanced accountability.
