Increased focus on campaigns towards the 2015 election could derail economic performance in Nigeria this year, the International Monetary Fund, IMF, said in its 2013 consultative discussion on the outlook and risks of the top Africa’s oil producer, The Prime Times reported.

The IMF said the political environment towards 2015 elections would become less conducive for reforms that would sustain the growth of the economy in 2014. It expressed concern that the early start of electioneering activities will pose significant challenges to the implementation of the MTEF and structural reforms.

The IMF document identified 17 issues likely to moderate the performance of the economy during the year and noted that the key challenge would be how Nigeria would leverage her oil resources to promote sustained inclusive growth, reduce poverty, inequity, unemployment and improve the living standards of all Nigerians.

The organisation listed high unemployment rate, poverty, insecurity and social tensions as some of the major concerns Nigerians would have to contend with in 2014.

While the economy is expected to grow from 6.4 per cent in 2013 to 7.3 per cent in 2014, the IMF said this growth would be driven partially by an expected rebound in oil production and the positive impact of reforms in power and agriculture sectors.

It projected inflation to remain at single digit in line with a tight monetary policy and continued fiscal consolidation by the Central Bank of Nigeria.

Apart from the uncertainty of global economic recovery and the unpredictability of oil price movement at the international oil market, the IMF said domestic risks were capable of adversely impacting investors’ confidence and economic performance in the medium term.