Nigeria has no 'immediate plans' for your Loan, Minister tells IMF

The Minister of Finance, Wale Edun says Nigeria has no immediate plans to approach the International Monetary Fund (IMF) for financial assistance.

Edun made this known at the African Finance Ministers’ briefing, during the IMF/World Bank Annual Meetings, on Thursday in Washington.

He said that the reliance on ongoing domestic economic reforms was working.

The minister said that Nigeria’s reforms over two years had restored policy credibility and strengthened resilience against global economic shocks affecting many African economies.

He said that the country had prioritised market-based adjustments, avoiding administrative controls, particularly in foreign exchange and petroleum pricing mechanisms.

Edun reaffirmed that the country continued relying on internal policy measures, rather than seeking multilateral lending support at this time.

He, however, urged faster and coordinated financial assistance for African countries, amid discussions on a proposed $50 billion dollars global support package.

The minister said that Nigeria had built buffers through reforms, that several African nations remained highly exposed and required urgent external financial support.

He said that Nigeria’s reliance on market mechanisms had enabled smoother economic adjustments, reducing disruptions and sustaining the country’s macroeconomic trajectory, amid global uncertainties.

Credit NAN: Texts excluding Headline

Renewed Hope Agenda: The journey is not easy, says Tinubu

President Bola Tinubu has called for unity, resilience and renewed commitment to nation-building, urging Nigerians to work together to overcome poverty, ignorance and hopelessness.

Tinubu made the call on Thursday at a meeting with leaders and coordinators of the Renewed Hope Ambassadors at the State House, Abuja.

He described the gathering as an opportunity to reinforce democratic ideals, stressing that Nigeria’s progress depends on shared values, integrity and a common national vision.

The president emphasised that democracy must be sustained through respect for the rule of law, separation of powers and active citizen participation.

Highlighting hope as a driver of development, Tinubu urged Nigerians, particularly the youth, to remain optimistic and committed to national growth.

“This is an opportunity of a lifetime to break the shackles of poverty, ignorance and hopelessness, and to build a nation anchored on freedom and democracy.’

He cautioned against disregard for lawful authority, stressing the importance of upholding judicial decisions.

“We cannot submit to disobedience of lawful court orders. We must embrace the judiciary, whether it favours us or not.”

Tinubu said national greatness could only be achieved through unity and a shared vision for progress and prosperity.

“There is no path to national greatness other than building one country with a common vision for development.”

The president assured supporters of his resolve to remain steadfast in spite of challenges, noting that leadership requires courage and perseverance.

Tinubu reiterated his administration’s commitment to economic reforms and infrastructure development aimed at improving citizens’ welfare.

“The journey is not easy, but I assure you, you will not regret being part of this movement for national renewal,” he said.

The president urged the ambassadors to mobilise support and deepen public understanding of government policies and programmes, especially at the grassroots.

Earlier, National Chairman of the All Progressives Congress (APC), Nantawe Yilwatda, called for stronger collaboration between the ambassadors and party structures at the grassroots.

He said such synergy would enhance voter education, mobilisation and democratic participation across the country.

In his remarks, Director-General of the Renewed Hope Ambassadors and governor of Imo, Hope Uzodimma, commended the president’s reforms as impactful and far-reaching.

Uzodimma pledged continued mobilisation and sensitisation of Nigerians to sustain momentum ahead of the 2027 general elections.

The event was attended by Governor Uba Sani of Kaduna State, former Senate President Pius Anyim, former Speaker Aminu Bello Masari, former governor of Nasarawa State, Tanko Al-Makura and former Delta governor Ifeanyi Okowa, who all pledged continued mobilisation and support for government programmes. 

Credit NAN: Texts excluding Headline