By Nsikak Evans
OrderPaperToday – President of the Senate, Bukola Saraki says Nigeria will continue to roll out policies that would strengthen Nigeria’s economy in line with global best practices.
Senator Saraki stated this on Wednesday when he played host to the Managing Director of the International Monetary Fund, Ms. Christine Lagarde.
Mr. Saraki said plans are in place with a strong legislative agenda that would facilitate the country’s economic plan in line with the 2016 budget proposal that is before the legislature.
In her response, the IMF boss said that contrary to widespread perception, she was not in Nigeria to negotiate a loan for the country.
This is contrary to speculations that gained ground in the past forty eight hours that President Buhari intended to fund the deficit in the 2016 budget from an IMF loan.
After a look at the government’s fiscal, monetary and economic policy she said is convinced that Nigeria does not need a new IMF programme.
She said the Bretton Woods institution would sustain its working relationship with Nigeria especially since becoming the biggest economy in Africa.
Ms Lagarde is also asked the Nigerian Parliament to support President Buhari in the fight against corruption and his commitment to transparency and accountability in governance.
She said the IMF will continue to offer technical assistance and capacity building.
She also spoke of the urgent need to address infrastructural deficit, equity as well as equality in Nigeria.
She also stressed that oil price will remain low for a long time due to likely significant supply and lower demand, facing spillover from political factors especially in the fight against boko haram.
She also urged Nigeria to restrain from incessant borrowing and focus on every naira spent so that important issues like power, transportation and housing can be addressed.