Finance and Economy Minister, Wale Edun, says Nigeria is not planning to seek financial assistance from the International Monetary Fund (IMF), insisting there is no immediate need for such support.
Edun stated this on Thursday during the African Finance Ministers’ briefing at the IMF/World Bank Annual Meetings in Washington, D.C.
He said ongoing domestic economic reforms had helped restore policy credibility and strengthen Nigeria’s resilience against global economic shocks affecting several African economies.
According to him, the government has continued to prioritise market-driven adjustments, particularly in foreign exchange management and petroleum pricing, rather than administrative controls.
The minister added that Nigeria would continue to rely on internal policy measures to sustain macroeconomic stability, even as he called for faster and better-coordinated financial support for other African countries facing external pressures.
He noted that Nigeria’s reforms had created buffers that improved economic adjustment, but stressed that many African nations remained vulnerable and in urgent need of external assistance.
NAN
