- The International Monetary Fund (IMF) has warned the Nigerian federal government about its rising debt profile, just as President Buhari seeks approval from NASS to borrow $5.5bn to fund the budget - Tobias Adrian, a director at the financial institution, stated that if Nigeria does not put the resources gotten from increased borrowing to good use, it would pose serious challenges for the nation - However, Catherine Pattillo,
an assistant director at the IMF admitted that Nigeria has undertaken lots of positive reforms; but stated that the government must do more especially in terms of mobilizing non-oil revenue The federal government has been warned about its rising debt profile, especially foreign loans, by the International Monetary Fund (IMF), The Nation reports. The financial institution issued the warning on Wednesday, October 11. This comes following President Muhammadu Buhari’s recent request to the National Assembly for approval to borrow $5.5 billion to fund the 2017 budget.
an assistant director at the IMF admitted that Nigeria has undertaken lots of positive reforms; but stated that the government must do more especially in terms of mobilizing non-oil revenue The federal government has been warned about its rising debt profile, especially foreign loans, by the International Monetary Fund (IMF), The Nation reports. The financial institution issued the warning on Wednesday, October 11. This comes following President Muhammadu Buhari’s recent request to the National Assembly for approval to borrow $5.5 billion to fund the 2017 budget.
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