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Minister Udoma denies IMF loan plan by FG

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Minister Udoma denies IMF loan plan by FG

Nigerian Minister of Budget and National Planning, Udoma Udo Udoma, has denied reports that the President Muhammadu Buhari-led Federal government is seeking to borrow from the International Monetary Fund (IMF).

A national newspaper had in a report claimed that the Federal Government was looking to source a loan from the IMF.

However Udoma, while briefing a French delegation that visited him in Abuja, denied any such undertaking by the Federal Government, explaining that government was generally exploring internal sources, and in the case of external sources, looking at institutions that can give concessionary terms.

This is contained in a statement signed by Akpandem James, Media Adviser to the Minister.

Read also: Lawmakers’ plot to corner N1.4tn in 2017 budget

The statement reads, “While briefing a French delegation that visited him in Abuja on Thursday, on what the Federal Government was doing to drive revenue for its activities, the minister explained generally that government was exploring both internal and external sources, but emphasized that in the case of external sources, government would only be looking at institutions that can give concessionary terms.

“Throughout the statement issued by the minister on the visit, which was not covered by any media organisation, no mention was made of any specific loan from any institution. The Federal Government does not have need to go to the IMF for any loan at this time.”

 

 

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