A week after receiving $3.4 billion from the International Monetary Fund (IMF), President Muhammadu Buhari has requested that international financial institutions should waive debt obligations of Nigeria, others.

President Buhari said considering the impact of the Coronavirus pandemic, the debt obligations of member states should be cancelled to assist nations struggling with the economic impact of the COVID-19.

He made this request during a virtual summit with other heads of states from the Non-Aligned Movement (NAM). The movement comprises of 120 developing world states that are not formally aligned with or against any major power bloc. It is the largest grouping of states globally after the United Nations.

During the summit titled "United Against COVID-19 Pandemic", President Buhari called for an “outright debt cancellation,” stating that https://allnews.ng/news/president-buhari-requests-for-cancellation-of-debt-obligation-as-nigeria-eyes-more-loan