NIGERIA SHOULD ADOPT FISCAL, OTHER REFORMS TO REDUCE FOOD INFLATION — IMF

Inflation has been a major challenge for most African countries over the last two decades. This has occurred due to a combination of factors, including the region’s high dependence on imported food. To address this issue, Nigeria should enact policies that improve its agricultural performance in order to improve supply and reduce price volatility, such as reducing policy subsidies, reforming producer prices and eliminating other distortions.