2023: World Bank Recommends Mixed Reforms To Reduce Nigeria’s Economic Shocks

The bank, in its December 2022 Nigeria Development Report, said findings indicate that reforms can be made in three key areas namely:

“Restoring macroeconomic stability through measures to reduce the domestic and external imbalances.”

This according to the World Bank, will require a coordinated mix of exchange rate, trade, monetary, and fiscal policies, notably including adopting a single, market-responsive exchange rate, eliminating the petrol subsidy, and increasing oil and non-oil revenues.

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