Why Nigeria Is Borrowing $3.4bn From IMF – Finance Minister

ICYMI: Why Nigeria Is Borrowing $3.4bn From IMF – Finance Minister

Minister of Finance, Budget and National Planning, Zainab Ahmed, has explained why Nigeria is borrowing $3.4bn from the International Monetary Fund.

“The financial package is for assistance to curb this COVID-19 pandemic and the shock that we have had in terms of the crash in the crude oil prices. The assistance, facilitated via the Rapid Financing Instrument , will help limit the decline in Nigeria’s international reserves, the IMF said.

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