Devaluation, subsidy top agenda as IMF team meets Buhari

Devaluation, subsidy top agenda as IMF team meets Buhari

Managing Director of the International Monetary Fund (IMF), Ms Christie Lagarde, yesterday arrived Nigeria on a four-day working visit.

Her private jet number ZS PNP arrived the Presidential Wing of the Nnamdi Azikiwe International Airport at 2.44pm as she was taken to the presidential lounge where she had a brief session with the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele and the Minister of Finance, Mrs. Kemi Adeosun.

Lagarde who refused to talk to the press on arrival left the airport at 3.20pm and was taken to Transcorp Hilton Hotel for a short rest preparatory to a banquet being organised for her at the Villa by 7pm.

While in Nigeria, the IMF boss is expected to hold high level discussions with President Muhammadu Buhari and his economic team. She will also meet with the Nigerian private sector leaders and civil society groups where issues botheribg on naira devalua- tion, fuel subsidy removal and diversification of the Nige- rian economy, among others would top the agenda. The IMF and World Bank are con- cerned that despite spending over N7 trillion in over five years, hasn’t much to show for it, adding that such spending has become unsustainable due to declining Federal Government revenues. Read more

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