Nigeria’s Finance Minister meets IMF Africa Group III Executive Director

Africa, Business, Politics

ABUJA, NIGERIA (NPA) — 27 March 2026 — Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Friday received Dr Quattara Wautabouna, Executive Director for the IMF Africa Group III (ECOWAS Constituency), during a courtesy visit in Abuja.

According to a statement from the Ministry, discussions centred on strengthening regional economic coordination and enhancing collaboration within the ECOWAS constituency. The Minister emphasised the importance of continued engagement to support economic stability and shared growth objectives across the region.

The IMF Africa Group III has been pivotal in supporting economic and institutional projects across West Africa. In Ghana, its US$3 billion Extended Credit Facility (ECF) programme is stabilising the economy through debt restructuring and fiscal reforms. Nigeria, though not under a lending programme, benefits from IMF-backed reforms, such as subsidy removal, improved functioning of the foreign exchange market, and fiscal discipline. Sierra Leone is implementing a 38‑month ECF arrangement worth SDR 187 million (about US$253 million), focusing on macroeconomic adjustment and climate resilience. Liberia has also received disbursements under its ECF programme, including US$26.5 million in October 2025, to strengthen fiscal management and infrastructure.

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Beyond individual countries, the IMF supports regional capacity building through AFRITAC West 2, which covers Nigeria, Ghana, Sierra Leone, Liberia, The Gambia and Cabo Verde. This initiative provides technical assistance and training in public finance, macroeconomic management and financial sector oversight. Collectively, these projects underscore the IMF’s commitment to stabilising economies, reinforcing reforms and building institutional resilience across West Africa.