There were speculations earlier in some quarters that the Head of the International Monetary Fund (IMF) Christine Lagarde’s visit to Nigeria today was to negotiate a loan agreement with the government, however Lagarde after a closed-door meeting with President Mohammadu Buahri at the Presidential Villa, Abuja spoke with journalists and refuted the claim. Lagarde went on to talk about Nigeria’s economy and her visit. To further aid the public in understanding Lagarde’s visit INFORMATION NIGERIA has highlighted five things worthy of note about Lagarde’s visit…
– According to the IMF boss, she sees no reason why Nigeria would need IMF money at this time because there is a strong resilience from the president and his team.
– She said Nigeria’s government needs to widen its sources of revenue in order to not rely so much on oil, the price of which has recently plunged.
– She said oil contributes only 14% to Nigeria’s GDP but contributes immensely to its revenue.
– Lagarde, who is in the country on a four-day official visit, said her discussions bothered on challenges ahead stemming from the oil price reduction.
– Lagarde stated that the IMF would undertake a review and audit of the N6.08-trillion budget next week so as to really assess whether the financing is in place.
What do you think???