The Minister of Finance, Mrs Kemi Adeosun, in the ongoing spring meetings of the IMF-world Bank in Washington DC United States of America stated that the Federal government has said the economic crisis currently facing the the country are surmountable without it having to take any loan from the international Monetary Fund.
Festus Ankanbi her media adviser, stated that this statement was made in response to questions about why the government had refuse to apply for IMF loans.
According to punch, the minister said Nigeria was adapting to its new realities by implementing fiscal policies to steer the country back on course for stable growth with a diversified economy.
By 2017, these policies and investment would enable Nigeria to show positive growth. “Nigeria is not sick and even if we are, we have our own local remedy. The real vulnerability in the Nigerian economy is over dependence on a single source of revenue – oil.
She also added that the Federal government has resolved to build resilience into the country’s economy to hedge against future oil shocks due to the vulnerability and laziness that dependence on oil brings.
