Chukwu Obinna 
Minister of Finance, Wale Edun
ABUJA, Nigeria – Nigeria rules out seeking new financing from the International Monetary Fund, even as the lender prepares up to $50bn in support for economies under pressure.
Finance Minister Wale Edun says Abuja has “no plan at the moment” to approach the IMF, signalling confidence in domestic economic strategies despite global uncertainties.
“Nigeria has no plan… to approach the IMF for any other such burden,” Edun says on the sidelines of the IMF/World Bank Spring Meetings in Washington.
His remarks follow IMF Managing Director Kristalina Georgieva’s warning that global financial demand could reach between $20bn and $50bn, with several Sub-Saharan African countries expected to seek assistance.
Georgieva urges struggling economies to act swiftly. “When you need help financially, don’t hesitate,” she says, cautioning that delayed intervention could worsen economic shocks.
She warns global growth may slow from 3.4 per cent to as low as 2.1 per cent in 2026, with energy-importing economies facing the greatest risks.
Edun, however, argues that African countries are disproportionately affected by external crises, particularly the Middle East conflict, despite playing no role in triggering them.
“They are not creators… yet they face greater pressure than any other region,” he says, highlighting threats to growth, jobs and poverty reduction.
While African policymakers seek guidance rather than immediate funding, the IMF says financing requests could emerge as economic pressures intensify.
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Mirian Gom 
Hussaini Ibrahim 
Oluwatobi Adu