• Why Nigeria has not applied for IMF loan – Adeosun, Finance Minister

    Why Nigeria has not applied for IMF loan – Adeosun, Finance Minister

    Nigeria, which is going through its worst economic crisis in years, has not turned to the International Monetary Fund (IMF) for financial assistance because it is “not sick”, its finance minister said.

    Africa’s top oil exporter, which has the continent’s biggest economy, has been hit hard by the fall in crude prices since oil sales account for around 70 percent of its income.

    The economy grew 2.8 percent last year, its slowest pace in decades, and in March annual inflation rose to […]