The International Monetary Fund has predicted that Nigeria will face political and economic risks if the security problems in the northern part of the country are not urgently controlled by the Federal Government and security agencies.
The IMF made the prediction in its latest Staff Report that was presented in Washington DC, United States on Wednesday, adding that insecurity was a threat to the country’s anticipated strong growth to be driven by agriculture, trade and services.
Killings by Boko Haram insurgents in the northeast as well as attacks on communities by Fulani herdsmen and unknown gunmen in other parts of the North have increased lately, even as fears are mounting over possible violence in the run up to the 2015 general elections.
The IMF report stated, “Growth is expected to remain strong, driven by agriculture, trade, and services. Inflation should continue to decline in line with a tight monetary policy and a lowering trend in food prices from higher rice and wheat production.
“Key downside risks are persistently lower oil revenue from changing global dynamics and lower domestic production; less prudent fiscal policy through the ongoing political cycle; ongoing security problems in the North; and uncertainty about the pace of global recovery.”
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