Nigeria Won't Seek IMF Loans Amid Rising Debt Concerns

During a press briefing on Thursday, Nigeria's Finance Minister Wale Edun stated that the country has no plans to seek loans from the International Monetary Fund (IMF) despite increasing fiscal pressures and rising debt levels. This announcement was made amid broader concerns regarding debt sustainability across Africa, where calls have been made for vulnerable countries to seek financial support.

Edun emphasized that Nigeria is not considering borrowing from the IMF at this time and is focused on addressing structural issues to improve fiscal sustainability. According to the Debt Management Office (DMO), Nigeria's total public debt, which includes both federal and state government debts, increased by N14 trillion, reaching N159.27 trillion by the end of the fourth quarter of 2025.

Edun also highlighted the need for structural reforms to reduce reliance on expensive borrowing, noting that Nigeria's external debt represents 46.73% of its total public debt.