IMF chief Christine Lagarde (R) shakes hands with Nigeria's President Muhammadu Buhari
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Why does Nigeria need to borrow money?

Nigerian President Muhammadu Buhari has met the International Monetary Fund's (IMF) managing director as the West African country grapples with the fall in global oil prices.

His government is trying to secure funds to combat Nigeria's $11bn (£7.4bn) budget deficit.

But Christine Lagarde said she was not holding talks on a loan or a bailout, saying she saw no reason why Nigeria would need IMF money.

BBC Monitoring looks at why Nigeria needs to borrow and how crucial oil is to its economy.

Produced by Alexi Peristianis

BBC Monitoring reports and analyses news from TV, radio, web and print media around the world. You can follow BBC Monitoring on Twitter and Facebook.

  • 05 Jan 2016
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