Recession: Senate Seeks More Support from IMF

Posted by African Examiner Featured, Latest Headlines, News Thursday, October 27th, 2016

Ayodele Afolabi

ABUJA, NIGERIA (AFRICAN EXAMINER) – The Deputy President of the Senate, Ike Ekweremadu, has solicited more support and closer partnership of the International Monetary Fund (IMF), in Nigeria’s efforts to address the country economic challenges.

He stated this while receiving, on behalf of the President of the Senate, Bukola Saraki, a delegation of the African Department of the IMF, which paid a courtesy visit to the Senate on Thursday.

Ekweremadu, who thanked the IMF for their support to Nigeria, however said Nigeria needed more support and collaboration of the IMF at this particularly challenging period in the nation.

He said: “The IMF has shown keen interest in the development of Nigeria. We believe that we need greater collaboration at this time of our challenges and we also believe that whatever support and technical assistance we are going to get will be tailored to our own needs, which is also peculiar to us, because every country has its own challenges and peculiar circumstances.

“We believe that working together and taking cognizance of our peculiar circumstances, we will be able to find solutions to our problems. We will work together to build a country where food, shelter and other basic needs are affordable for all”.

Earlier in his address, the new Director, African Department, IMF, Mr. Abebe Selassie, said he was in Nigeria to have a first-hand assessment of the country and to discuss the economic challenges.

He reassured the Senate that the global body would work hand-in-hand with Nigeria to address nation’s economic challenges.

Selassie added: “I just took over as Head of the African Department very recently. This is my first country visit. I wanted to come to Nigeria because it is the largest economy and given issues that are here. In my new capacity, what I know is what is on paper and I wanted to come here and talk to the people and get a better sense of how you see the challenges and what you have to do to address them. “