The Democratic Front (TDF) has welcomed the recent International Monetary Fund (IMF) statement on Nigeria, praising its positive assessment of President Bola Tinubu’s reform agenda.
However, in a joint statement by Chairman Danjuma Muhammad and Secretary Wale Adedayo, the group challenged observations regarding the rise in Nigeria’s poverty index to 60%.
The TDF pointed out that according to World Bank data cited in the report, three-quarters of the poverty surge—from 40% to 61%—actually occurred between 2019 and 2023, prior to the current administration taking office. The group attributed this initial spike to post-COVID-19 socio-economic declines and supply chain disruptions that severely impacted national cash flow and household incomes.
Furthermore, the group argued that subsequent economic pressures were exacerbated by external factors, specifically the Middle East crisis and its impact on the Strait of Hormuz. They noted that before these global disruptions, the administration’s reforms had shown strength, keeping domestic fuel prices between N700 and N800 and stabilizing the exchange rate.
The TDF concluded by highlighting the government’s ongoing commitment to turning long-term reform gains into tangible benefits, pointing to a recent N700 billion approval for local contractors aimed at boosting cash flow within the supply chain.
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