- IMF projects 1.5% Nigeria’s contribution this year
An alumnus of Harvard University and Chief Executive Officer of Cubical Vertex Solutions Limited, Abdullahi Hashim, has said Nigeria’s new tax reforms have begun to reshape global perceptions of the nation’s economy.
He alluded to the projection by the International Monetary Fund (IMF) that Nigeria will contribute 1.5 per cent to global Gross Domestic Product (GDP) this year.
Hashim, who is also a member of Nigerian Society of Engineers (NSE) and the Council for the Regulation of Engineering in Nigeria (COREN), said the IMF’s outlook reflected the growing international confidence in Nigeria’s economic direction, provided that the reforms are properly implemented.
Hashim said this while addressing reporters on Tesday in Abuja.
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The engineer explained that the projection was directly linked to President Bola Ahmed Tinubu adminisration’s new tax reforms, which have signalled to the international community that Nigeria is attempting to fix long-standing structural weaknesses.
He said: “The issue now is that IMF also puts Nigeria as a real global GDP contributor of 1.5 per cent. Do you know the reason? It’s based on this particular new tax reform laws. In its projection for 2026, it said Nigeria will contribute to the global GDP 1.5 per cent,” Hashim said
The former top official on Public Private Partnerships (PPP) under former Presidents Umaru Musa Yar’Adua and Goodluck Jonathan stressed that beyond the global recognition, the potential domestic gains could be significant, especially in employment creation and foreign direct investment inflows.
When asked about the advantages and disadvantages of the new tax reforms, Hashim said: “Yeah, there are certain disadvantages. But the main advantage is if truly implemented and the factors put in place are realistically adhered to.