Following the completion of a billion dollar Eurobond issue, Nigeria is set to borrow from the World Bank and China to fund a range of infrastructure projects.
CNBC Africa‘s Wole Famurewa spoke to Finance Minister Kemi Adeosun about the government’s borrowing program and the economic recovery growth plan and why Nigeria is not considering an IMF loan.
“For us the IMF is really a lender of last resort when you have balance of payments problem. Nigeria doesn’t have balance of payments problems per se, it has a fiscal problem,” Adeosun said.
“We are already doing as much reform as any IMF programme would impose on Nigeria,” she added.
“Nigerians want to take responsibility for their future. We must have our home-grown, home-designed programme of reform.”