The visit was part of the IMF’s consultative mission to review Nigeria’s fiscal priorities, macroeconomic framework, and reform trajectory ahead of its forthcoming country report. Schimmelpfennig commended Nigeria’s reform efforts and expressed the IMF’s interest in understanding how the country’s medium-term strategy aligns with its broader development goals.
“We would like to hear your thoughts on current developments — your outlook for the next year and the medium term,” he said. “We understand that you are preparing the medium-term framework, the National Development Plan, and the 2026 budget. Having your overall vision at this stage will be extremely helpful.”
He observed that while pre-election periods in many countries bring uncertainty, Nigeria’s continued policy coherence reflects institutional maturity. “Every country manages pre-election periods differently, but what we see in Nigeria is a continued commitment to reform and policy consistency — a signal of growing institutional strength,” he stated.
In response, Bagudu reaffirmed the government’s commitment to aligning fiscal reforms with national planning to ensure coherence, efficiency, and inclusive growth. He also expressed gratitude for the IMF’s technical assistance and constructive engagement over the past two and a half years, which he said had helped refine Nigeria’s reform strategies.
“We are deeply grateful for the guidance and encouragement we have received from the IMF and World Bank,” he said. “Your interrogation and feedback have played a vital role in ensuring that our economic management remains evidence-based.”
Bagudu noted that Nigeria’s reform journey under President Bola Tinubu has been anchored on discipline, inclusion, and transparency — principles driving progress toward the administration’s vision of a $1 trillion economy by 2030. He disclosed that the Renewed Hope Ward-Based Development Plan aims to harness the economic potential of the nation’s 8,809 wards to promote inclusive, bottom-up growth.
The minister further explained that the forthcoming 2026–2030 National Development Plan seeks to harmonize strategies across all tiers of government within a cohesive, data-driven framework. “We are not lamenting; we are learning and refining,” Bagudu added.
