Nigeria will not approach the International Monetary Fund (IMF) for a bailout as war rages in the Middle East, which has pushed Premium Motor Spirit (PMS) beyond N1,300 per litre.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who stated this at the 2026 Spring Meeting of the World Bank and IMF in Washington DC, reiterated the government’s conviction in the country’s homegrown economic recovery strategy.

Meanwhile, Nigeria’s Ambassador and Permanent Representative to the United Nations, Jimoh Ibrahim, has declared that President Bola Ahmed Tinubu will not back down on the administration’s economic reforms despite current hardships, assuring that Nigerians will soon reap the benefits.