The Minister of Finance, Mrs Kemi Adeosun, has disagreed with the perception of Nigeria by most international bodies particularly the World Bank and the IMF.
The Finance Minister told a panel discussion in Washington where she is attending the spring meetings of the IMF and World Bank that Nigeria has resolved to build resilience into the country’s economy to hedge against future oil shocks.
She added that the nation is seeking a combination loan support from the World Bank and the African Development Bank to help diversify its economy.
Reacting to Nigeria’s rejection of IMF offer, she said that the memory of the last experience still resonates among the citizenry.
Meanwhile, major economies at the World Bank-IMF spring meetings believe that global growth remains slow, and there is need for nations to diversify their economy.
The message seems more directed towards oil exporting countries, which have been weaning off their dependence on oil over the years.
CBN Governor, Godwin Emefiele, who is attending the meetings, says Nigeria has already begun measures towards diversification, despite the challenges.
