June 10, 2026

•Says 63% of Nigerians live in poverty

By Emma Ujah, Abuja Bureau Chief

The International Monetary Fund (IMF) has advised the Federal Government against the proposed $5 billion loan from the First Abu Dhabi Bank (FADB) of the United Arab Emirates, warning that the financing arrangement carries significant risks.

Speaking during the Nigeria 2026 Article IV briefing, IMF Resident Representative in Nigeria, Christian Ebeke, said: “On the TRS, Nigeria has market access. It carries risks and it is important to consider that. There are options for Nigeria. Nigeria can issue Eurobonds and indeed borrow from multilateral institutions on concessional terms. Nigeria can take advantage of those options for its deficit funding.”