Govt renews commitment to IMF-backed economic reforms

Govt renews commitment to IMF-backed economic reforms

The Federal Government has reaffirmed its commitment to sustaining its partnership with the International Monetary Fund as it pursues ongoing fiscal and macroeconomic reforms aimed at restoring economic stability, strengthening public finances and supporting long-term growth.

The commitment was made at a farewell dinner in Abuja held in honour of the outgoing IMF Resident Representative in Nigeria, Dr Christian Ebeke, according to a statement signed on Sunday by the Head of Information and Public Relations at the Federal Ministry of Finance, Efe Ovuakporie.

Speaking at the event, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, described  Ebeke as “a trusted partner whose professionalism, technical depth and constructive engagement helped strengthen cooperation between Nigeria and the IMF during a critical period of economic transition.”

The minister said the IMF official’s three-year tenure coincided with the implementation of major economic reforms designed to restore macroeconomic stability, strengthen government finances, improve investor confidence and lay the foundation for sustainable economic growth.

According to the statement, Oyedele said that throughout the reform period, Ebeke remained closely engaged with Nigerian authorities, providing technical support while demonstrating an understanding of the country’s economic realities.

He said the outgoing IMF representative contributed significantly to discussions on fiscal reforms, domestic revenue mobilisation, public debt management, foreign exchange reforms and other key government priorities.

The statement added, “ He added that his commitment to dialogue, mutual respect and practical problem-solving further strengthened the longstanding relationship between Nigeria and the IMF.”

Oyedele also praised Ebeke’s personal qualities, saying he distinguished himself through “his

humility, accessibility and ability to build confidence across institutions.”

“Rather than prescribing solutions from a distance, he engaged stakeholders with openness, listened carefully to differing perspectives and worked collaboratively in support of Nigeria’s development aspirations,” the statement noted.

The minister thanked the outgoing IMF official for his service to Nigeria, expressing confidence that  the relationships  built  during his  assignment would  continue to strengthen  cooperation between the Federal Government and the IMF.

Also speaking, the Director of the International Economic Relations Department at the Ministry of Finance, Stanley George, said Ebeke’s tenure would be remembered for “its professionalism, constructive engagement and steadfast support for Nigeria’s economic reform efforts.”

George noted that the partnership between Nigeria and the IMF had grown stronger through sustained dialogue, mutual respect and a shared commitment to Nigeria’s economic progress, adding that Ebeke’s contributions would leave a lasting impact on relations between both institutions.

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, also commended the outgoing IMF representative, saying his tenure coincided with a defining period in Nigeria’s economic reform programme.

According to the statement, Cardoso said the Federal Government and the apex bank had implemented “bold policy measures to restore macroeconomic stability, strengthen policy credibility, improve market confidence and lay a firmer foundation for sustainable growth.”

The CBN governor further praised Ebeke for promoting constructive dialogue, facilitating technical cooperation and bringing “professionalism, objectivity and a practical understanding of Nigeria’s economic realities to every engagement.”

He expressed confidence that the strong collaboration between Nigeria and the IMF would

continue under Ebeke’s successor.

Responding, Ebeke described his three-year assignment in Nigeria as “both a privilege and a professionally enriching experience.”

He said serving as the IMF Resident Representative enabled him to work with government officials, development partners, the private sector, academia and other stakeholders committed to Nigeria’s economic development.

Ebeke said he was leaving Nigeria with “profound admiration for the resilience, talent and entrepreneurial spirit of its people,” expressing confidence that “with sustained reforms, sound economic policies and continued collaboration among stakeholders, Nigeria is well positioned to achieve inclusive and durable economic growth.”

He also thanked the Federal Government, the Minister of Finance, the CBN governor, officials across government institutions, development partners, members of the media and IMF colleagues for their support during his assignment.

According to him, the cordial relationship between the IMF and Nigerian authorities had further strengthened the longstanding partnership dedicated to advancing Nigeria’s reform agenda and sustainable development.

Reflecting on his stay in the country, Ebeke said the relationships he built and the memories he created would remain with him long after his departure, adding that he looked forward to following Nigeria’s progress and remaining a friend of the country.

The event was attended by senior government officials, including the Director-General of the Debt Management Office, Patience Oniha, the Statistician-General of the Federation, Adeyemi Adeniran, chief executives of government agencies, representatives of development partners and the diplomatic community, senior officials of the Federal Ministry of Finance and other dignitaries.

The statement said the evening ended with renewed appreciation for the enduring partnership between Nigeria and the IMF and a shared commitment to sustaining collaboration in support of the country’s ongoing fiscal and macroeconomic reform agenda.

Source: https://punchng.com/govt-renews-commitment-to-imf-backed-economic-reforms/