Why Nigeria Doesn't Need Debt Relief — Finance Minister

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has stated that Nigeria is not looking for debt cancellation or restructuring because its debt position is within comfortable limits.

Ahmed who spoke in Abuja on Thursday said that the country is able to meet its debt obligation in the short, medium and long terms. 

When quizzed on the possibility of Nigeria opting for debt restructuring or cancellation, she said that the option was not on the table. 

“We don’t have any need to restructure, our debt management strategy is being followed closely. 

"We provide in our budgets, provision for debt service and it’s taken as first line charge. We haven’t defaulted on any loan – local and external. 

“We have projections of meeting our debts obligation in the short and medium terms. 

“We’re comfortable in terms of our ability to pay our debts. So, we’re not going for any debt relief and we’re not going for any debt restructuring,” Ahmed said.