The Managing Director of International Monetary Fund (IMF) Christine Legarde says the state of Nigeria’s economy is critical and requires proactive monetary, fiscal and structural policies to put it on the path of growth.

The IMF position during a media conference at the IMF WD spring meetings attracted the reaction of Nigeria’s Minister of Finance Kemi Adeosun.

The Minister, said Nigeria will overcome its economic challenges without taking loan facility from the IMF.

She disclosed this in a statement issued in Abuja on Saturday. Adeosun made the observation at the ongoing Spring Meetings of the IMF-World Bank in Washington DC in response to why the government has refused to apply for IMF loans.

The statement quoted the minister as saying that Nigeria was adapting to its new realities by implementing fiscal policies to steer the country back on track for stable growth with a diversified economy.

Signed by the Special Adviser to the Minister on Media, Mr Festus Akanbi, the statement said the minister expressed optimism that sound fiscal policies and investments would boost Nigeria’s economy by 2017.

Adeosun insisted that what the country was passing through was surmountable because government was already applying a “cocktail of measures to address the problem.

“Nigeria is not sick. The real vulnerability in the Nigerian economy is over-dependence on a single source of revenue; oil.

“We have resolved to build resilience into the country’s economy to hedge against future oil shocks. This is because dependence on oil brings about vulnerability and laziness.

“So, we are doing a combination of things to diversify our economy, with revenue mobilisation to enable sufficient investment in developing the non-oil sectors.

“We have great opportunities to reset the Nigerian economy and ensure that as we go forward, growth will be in a sustainable manner so that we won’t be vulnerable to oil price fluctuations.’’

Adeosun said with a truly diversified economy the government would have enabled opportunities for wealth creation that would have flow down to every Nigerian.

She said that the compelling business case in Nigeria is that the fundamentals remain very strong, a teaming, young growing population, rich in resources and that the government of the day is determined to finally get it right.

She added that the long term investors recognise this and understand the difference between short term and long term issues and that the case for Nigeria persuades one to plan for the longer term opportunities



http://www.nta.ng/news/investment/20160416-nigeria-is-not-sick-we-dont-need-imf-loans-finance-minister-kemi-adeosun/

When you stand your ground and resist temptations,

Even the devil becomes scared of ya!!!

Nice one Kemi

God bless PMB sturborn nature!!

Advantages of having a strong person (PMB) as your boss

she must be insane, when workers has not been paid, no fuel, no light. she is not speaking for Nigeria. we need that IMF loan. period.



and she call that China deal loan? the Nigeria China deal. I don't call that loan. rather the government went to China to award frivolous blind contract to Chinese.

that is not loan.

Why Should Nigeria Pay Back China -Yuan -Loan Deal In $USD? Convinced Nigerians

this topic is why should Nigeria pay back China-Yuan-Loan Deal in USD$? Nigerians need to be convinced why we are not paying back in yuan but in Dollars.


this underlined question is a red flag and there is definitely a caught in this scheme. it's either the APC is scamming Nigeria or the Chinese want to scam Nigeria.

since the Chinese government want to open China and Nigeria Yuan Trade. there should be ease paying them with yuan earn from export to China. this red flag shows there is nothing to export to China from Nigeria.

and the most funny part we are converting a big chunk of our reserved to a country who don't want yuan payment. this is disturbing and hilarious.


if we must tell ourselves the truth without religious or tribal view. than we will see things clearly. the APC or buhari aide need to come out on national TV to explain to Nigeria every details of this loan deal.


can someone care enough to answer this questions?


if there is no reasonable answer we will keep heating up the polity, and most especially this China & Nigeria deal

find below answer to our problem.

Mindfulness:


You didn't need your so called "red flag" to know this.

The top export destinations of Nigeria are India ($12.4B), the United States ($10.9B), Brazil ($9.7B), Spain ($7B) and the Netherlands ($5.12B).

The [size=18pt]top import origin are China ($11.6B)[/size], the United States ($5.89B), the Netherlands ($3.59B), Belgium-Luxembourg ($3.08B) and India ($2.69B).



Yet, Nigerians think that the West are their enemies because their leaders have brainwashed them into believing this crap in order to distract them from their inability to run the country properly.

Of Course We Know Nigeria is Not Sick …and We Know Who is Sick

This Kemi is far better than that frog, wailers will still want to call her names.

Kemi cleaning Ngozi Iweala's mess since may 29th 2015


God bless PMB
God bless PYO
God bless Kemi
Thunder fire those wailing unnecessarily
God bless the federal republic of Nigeria

Those who wish country dead, will live to celebrate a new Nigeria. It take a leader of strong will to confront the slave master.

I call on all and sundry to join hand with our Nation to build this nation. If china, Singapore and Japan could do it, Nigeria can do.

God guide PMB

God Bless Nigeria.

...but you need Chinese loan ba

but you need china own ba?




this minister na tokunbo

i wonder when other country will borrow from Nigeria

Joel3:
she must be insane, when workers has not been paid, no fuel, no light. she is not speaking for Nigeria. we need that IMF loan. period.

Your statement sound hypocritical? On one hand some us of condemn PMB for going for China loan, now you encouraging him to go for IMF loan. Wonder shall not end.

I am waiting for another letter from Fayose.

Double tuale madam! We are beginning to sound and act like the giant of Africa that we are. No more falling down anyone pats our head...we don't need their loan, we don't need them QED!

Ki Chi fo...when we have saved enough to lend them, we shall call them.

Dear Kemi,

What did you guys go to China for? Or the supposed yuan China gave us was a dash.

Joel3:
she must be insane, when workers has not been paid, no fuel, no light. she is not speaking for Nigeria. we need that IMF loan. period.

Even if we need a loan it shouldn't be provided by IMF.

Joel3:
she must be insane, when workers has not been paid, no fuel, no light. she is not speaking for Nigeria. we need that IMF loan. period.

were are all the money being recovered are kept' we need to be realistic to our self this time a round

We dont need IMF loans for its consequences(true)

Nigeria is not sick(big lie)

With due respect Honourable, which country is more a sickler than Nigeria? is it Republic of Sambisa?
Name the country or you become another discovered Linus. Dont toll the line of Lai Mohammed madam, for it will not help you.

I trust her

Can someone hand me my cane?




Is this Kemi a robot or mannequin?


My cane please!!!

end tym loan

Nigeria is not sick, but Buhari is sick. You don't need IMF loan but you need Chinese loan. This inexperience girl and Buhari will kill Nigeria in few months time, and still blame GEJ . foolls

kYjelly2:
...but you need Chinese loan ba

Exactly

What is this inexperienced small Yoruba girl saying?

These people are just deceiving Nigerians, smh.

We do not need IMF loans but we collected loans from China, smh.

The West is dead, economically dead, they cannot lend any loans to anybody, IMF and IBRD/WorldBank are all agents of western imperialism, they are all in the final throes of death, so Nigeria cannot borrow from them because they no get any money to give anybody.

China cannot ascend to world Lucifer, it is not written of them to do so.

Every man prepare, stand up for the real Illuminati, the real deal Lucifer is here

Jesus Christ, the Son of God is here!

ok

workers has not been paid, no fuel, no light. she is not speaking for Nigeria. we need that IMF loan. period.

I don't know how many of you reason just because you hate her. The one we got before, who has it helped? If not for the obj era that helped in clearing the accumulated ones, you think dollars to naira wouldn't have been up to 1:500? What was dollar to naira rates before shagari era(though I don't expect you to know this as a kid). That was how many troubles befell Nigeria after loan upon loan.

Even with that, after obj left , we are back to it again, yet you and me keep feeling it. Either you like it or not, we will survive this. China loan is better because this is not cash loan. It is like trade by barter. You develop our infrastructures, and it is monetized and we do natural resources swap with you. Let us try something different in this country and we will see different results.

Go and read what Greece and some other countries under IMF are facing now with their small populations. Many kids these days that refuse to do research and follow latest news but only interested in insults just for small portion of ekiti free rice.

We don't need so called loan

alizma:

what you don't know is that China buys oil from us in large quantity, Nigeria can decide to settle her loan from China in exchange for its oil but what do we sell to the IMF?
wake up from the way GEJ has programmed you and think outside the box.

Don't mind them. When Nigeria has problems during Jonathan administration, we ran to them for help. Instead of helping us, they stopped buying our oil to worsen our problems. Here we are today.
They understand Africa well because any money they loan to us will be looted back to them. Their people will take contracts from us and mismanage the money and send it back to them.
We don't have the system and the technology to monitor how it is been used.
They know the implications of trading with China as a partner being a populous country. It came to them as a shock. They are confused already because many African countries will follow us in due time if the results are promising. They will lose hold of african in returns.That's why they are using all means to block it.
Even Ben bruse indirectly support it when he twitted that loan is better if it is used for infrastructural development and monetize it. It will open business up every where.
But here we are today, children that are yet to pass jamb will be spewing trash every where just because of regional hatred they have created for them selves.

Kemi Adeosun is Bae

amtaken:
Can someone hand me my cane?




Is this Kemi a robot or mannequin?


My cane please!!!

Haba! This ur statement is lame na

So Minister are also free to pick the zombie form abi??... Hmmmm. Miss Madam finance minister, Mbok Nigeria is very sick and at the edge of going into an unconscious state.. Just tell us one good thing this current administration has gotten right since inception apart from jetting out out of the country every two days... I weep for my dear country Nigeria..

Lol Kemi and her grandpa Buhari prefer RMB to dollars.


Hahahahaha buhari hide your illiteracy small na, you hear?