Nigerian Government not turning to IMF for loan

The Ministry of Budget and National Planning has explained that the Nigerian  Government is not sourcing any loan from the International Monetary Fund (IMF).

The Minister of Budget and National Planning’s Media Adviser, Mr James Akpandem, made the clarification on in Abuja.

Akpandem said that the minister, Mr Udoma Udo Udoma, did not mention turning to IMF as reported by some media reports .

He said the minister while briefing a French delegation that visited him in Abuja on Thursday, explained generally that government was exploring both internal and external sources to fund infrastructure.

According to him, the minister emphasised that in the case of external sources, government will only be looking at institutions that can give concessionary terms.

“The Nigerian Government does not have need to go to the IMF for any loan at this time,’’ he said.

It can be recalled  that the minister had told the delegation that the government was borrowing to provide infrastructure.