The Minister of Finance, Wale Edun, has said that 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 and World Bank Annual Meetings on Thursday, saying that reliance on ongoing domestic economic reforms was yielding positive results.
Also said that the country had prioritised market-based adjustments, avoiding administrative controls, particularly in foreign exchange and petroleum pricing mechanisms.
Edun, further said that Nigeria’s reliance on market mechanisms had enabled smoother economic adjustments, reduced interruptions, and sustained the country’s macroeconomic path amid global uncertainties.