The International Monetary Fund (IMF) recommends that the government of Nigeria devalue its currency, the Naira. While this proposal, according to the IMF, could ensure macroeconomic stability in the country, it is not currently the best according to the federal government.

The Nigerian government and the International Monetary Fund (IMF) seem not to be on the same page about the need to devalue the Naira. In its latest economic assessment of Nigeria, the IMF recommended exchange rate reforms to establish a unified rate and allow for greater flexibility, while calling for increased efforts to increase government revenues.
"A properly valued exchange rate and a clear exchange rate policy would also help build confidence and a private sector-led recovery.
 Policy clarity is also important to attract larger capital inflows, including foreign direct investment, which has declined significantly in recent years and successful diversification," the IMF report said. Leaders of Africa's largest economy, for their part, believe that current pressures are not related to the exchange rate and a depreciation of the currency could aggravate economic concerns such as inflation.