Nigeria sets up Ebola task force, N10bn fund as IMF questions $5bn UAE swap deal
President Tinubu approved a special task force and N10 billion (~$50m) emergency fund to prevent Ebola from entering Nigeria, after the WHO declared outbreaks in DR Congo and Uganda a public-health emergency of international concern and the NCDC rated the importation risk as 'high.' Separately, the IMF used its 2026 Article IV consultation to warn against the federal government's plan to raise up to $5 billion via a Total Return Swap with First Abu Dhabi Bank, calling such structures opaque and risky and urging Eurobonds or concessional financing instead. The Fund also projected Nigeria's foreign debt could reach $72.6bn after the 2027 polls, while warning the CBN to maintain tight monetary policy. On security, four jihadists were convicted over the 2022 Pentecost massacre at a church in Owo, Ondo State.
Why it matters
As Africa's most populous nation with over 200 million people and porous borders, Nigeria's preparedness against a regional Ebola spread carries continental significance. The IMF's transparency concerns over the UAE swap and rising debt projections underscore the fragility of Tinubu's market reforms—subsidy removal and naira float—that have stabilized reserves but inflicted painful inflation on households.