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The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said the country has no plans to approach the International Monetary Fund for loans, despite growing fiscal pressures.

Edun made this known on Thursday during a minister’s press briefing at the ongoing IMF-World Bank Spring Meetings in Washington DC.

His comments come amid broader concerns about rising debt levels across Africa and calls by the IMF for vulnerable countries to seek financial support where necessary.

The minister emphasised that Nigeria is not considering borrowing from the IMF at this time.

He added that addressing these structural issues is key to improving fiscal sustainability across Africa.

Edun’s statement comes a day after the Debt Management Office (DMO) reported that Nigeria’s total public debt for federal and state governments increased by N14 trillion to hit N159.27 trillion at the end of the fourth quarter (Q4) of 2025.

While Nigeria is currently avoiding IMF loans, its rising debt profile underscores the need for careful fiscal management and sustainable financing strategies.

Edun highlighted broader concerns about debt sustainability and financing conditions on the continent.

He noted that President Bola Ahmed Tinubu has advocated for lower risk premiums to make financing more affordable for African countries.

The minister also stressed the need for structural reforms to reduce dependence on expensive borrowing.

According to DMO, Nigeria’s external debt stood at N74.43 trillion as of December 2025, representing 46.73% of total public debt.