IMF-phobia in Nigeria

The visit of IMF managing director Christine Lagarde is causing apprehension in Nigeria. Many fear she has come to advise the Buhari administration to further devalue the naira and remove all subsidies.

Nigeria makes provision for a N2.1trillion loan in its 2016 budget. The IMF and the World Bank are the greatest lenders.

The IMF boss has, however, told reporters Nigeria didn’t need any IMF programme and that it was not her duty to advise on Nigeria’s budget.

Ms Lagarde’s four-day visit ends on Thursday.

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