Presidency says no cause for anxiety over Nigeria’s debt profile

Nigeria does not need IMF loan - Adeosun

Presidency has assured that there is nothing to worry about the debt profile of Nigeria.

Finance minister, Kemi Adeosun, gave the assurance in response to the concern raised by the International Monetary Fund (IMF) at the ongoing spring meeting in Washington on Friday.

The minister said Nigeria is not one of the countries being referred to at the meeting, as having high debt burden in huge proportion to their gross domestic product (GDP).

Nigeria, according to the minister, is a mid-income nation, and its debt level is below 20 per cent to gross domestic product (GDP), and not one of the low income countries having 55 percent debt level to their GDP being referred to at the meeting.

She explained that Nigeria has no intention of growing its debt aggressively, and that it is being refinanced.

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