The study investigates the role of IMF in supporting socio-economic development of Nigeria. Primary data were collected via a semi-structured interview schedule and administered via the Purposive Sampling Technique. Analysis was conducted through the use of Content Analysis for clarity and better understanding. The study revealed that the IMF policies have negatively affected the economy and increases the levels of poverty and unemployment which also have direct adverse effect on the living standards of the people in the Country. The study, therefore, recommends that the federal government of Nigeria should properly device a strategy that will help in assessing and identifying any IMF policy that may have a negative effect before implementing it and should also provide possible alternative solutions that would raise the standards of living of its citizens.