Our fears for Nigeria — IMF Chief, Christine Lagard

On Tuesday, the Managing Director of the International Monetary Fund, Christine Lagarde, met President Muhammadu Buhari and other top Nigerian officials.
After her meeting with President Buhari at the presidential villa, she a‎ddressed a brief press conference during which she outlined her organisation’s concern for the Nigerian economy, and the help she is offering.
PREMIUM TIMES’ Sani Tukur was at the session, and below is a full tra‎nscript of the briefing.
”The last time I was in Nigeria was years ago. Since then, many things have changed. That was the topic of our discussion with President Buhari and his team. Massive democratic change has occurred in the country, peacefully. Nigeria has become the largest economy in Africa, certainly the most populated and attractive market.
”But, change has come in a more complicated way, in the sense that the source of revenue for Nigeria, which was predominantly oil, has seen its prices divided by more than half, and the financing cost are beginning to rise, if only the economic situation of the United States has improved and interest rates are beginning to rise.
”Also, emerging markets are decelerating their growths and they are no longer going to contribute to the massive growth that they have been doing over time.
”It’s in that context of a great Nigeria, which a leader in Africa is, that we had this excellent discussion with President Buhari.