IMF MD discusses Nigeria's declining oil revenues

by Aviwe Mtila 0

The Managing Director of the International Monetary Fund, Christine Lagarde completed a three-day visit to Nigeria on Wednesday.

CNBC Africa’s Wole Famurewa caught up with her and discussed Nigeria’s response to the decline in oil revenue and Ghana’s loan deal.


“Clearly what has happened is that the revenue of the Nigerian government has been significantly affected by the decline of oil prices.”


–          IMF Managing director, Christine Lagarde.

“The fall of oil prices have reduced, not only just the revenue, but it has reduced the entry of foreign currency in the country.”


–          IMF Managing director, Christine Lagarde.


“If a country can take the necessary measures, this policy package; monetary, fiscal, exchange rate and structural reforms including infrastructure investment, by itself, on its own as we hope Nigeria will. Then the IMF is not needed. That’s the reason, by the way, I said that no IMF programme is needed in Nigeria.”


–          IMF Managing director, Christine Lagarde.