Christine Largarde will assist Nigerian in Restructuring it task system After a meeting with President Muhammadu Buhari today

A statement issued by Femi Adesina, the president’s
special adviser on media and publicity indicates that
President Buhari’s administration will look inwards,
enforce regulations to stop financial leakages and adopt
global best practices in generating more revenue to
mitigate the effect of dwindling oil prices on the Nigerian
economy.
The statement read: “We have just come out of budget
discussions after many weeks of taking into consideration
the many needs of the country, and the down turn of the
economy with falling oil prices and the negative economic
forecasts.
Managing Director of the International Monetary Fund
(IMF), Ms Christine Lagarde and President Muhammadu
Buhari during the meeting today. Photo: Femi Adesina
“We are working very hard and with the budget as our way
forward, we will do our best to ensure that our country
survives the current economic downturn.

“We have also told all heads of Ministries, Departments and
Agencies of government that on our watch, they will fully
account for all funds that get into their coffers.”
The President also informed that the federal government
was reviewing its operational costs and had directed all
the Ministries, Departments and Agencies to cut down on
their overhead costs.
In her remarks, Ms Lagarde said that the IMF will be
willing to assist Nigeria in plugging revenue leakages,
tracing stolen funds and restructuring its tax system.
She said that Nigeria had all the potentials to overcome
the current economic challenge of falling commodity
prices without resorting to the IMF for financial support.