Wale Edun, the minister of finance and coordinating minister of the economy, say there are no plans to approach the International Monetary Fund (IMF) for loans.

The minister spoke on Thursday during a ministers’ press briefing at the ongoing IMF-World Bank spring meetings in Washington DC.

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.

On March 31, the national assembly approved President Bola Tinubu’s $6 billion external borrowing request, a move that raised concerns about oil windfall benefits for Nigeria.

The IMF had said it is expecting at least a dozen countries to demand financial support ranging between $20 billion and $50 billion in the near term.

The Bretton Woods institution asked African countries affected by the Middle East conflict not to delay in seeking financial support if needed.

Speaking on the gesture, Edun said Nigeria has no such plans.

“Nigeria has no plans at the moment to approach the IMF or any other source,” the minister said.