• Why we are borrowing N9.61trn, biggest loan in Nigerian history – FG explains

    Why we are borrowing N9.61trn, biggest loan in Nigerian history – FG explains

    According to reports, the federal government has explained why it wants to take a $30.54 billion (about N9.61 trillion) loan, which is believed to be the biggest single external loan request by any government in recent history.

    President Muhammadu Buhari, who on Tuesday requested the National Assembly’s accelerated approval of the borrowing plan, said it would include a $575 million World Bank loan.

    The total loan will fund a number of key projects in the country, he said.

    The projects cut across key […]

  • Sale of national assets will reduce borrowing, says Adeosun

    Sale of national assets will reduce borrowing, says Adeosun

    Minister of finance, Kemi Adeosun, has spoken out in support of the proposal for Nigeria to sell off some of its national assets to raise funds to reflate the economy out of recession, saying the move will reduce government borrowing.

    Adeosun made this comment during a meeting with business editors of some national dailies in Abuja over the weekend.

    She said the federal government, after undertaking a medium term expenditure framework and debt strategy, discovered that the country can no longer rely […]

  • How PDP deceived Nigerians by borrowing to fund stealing – Buhari’s aide

    How PDP deceived Nigerians by borrowing to fund stealing – Buhari’s aide

    Malam Garba Shehu, the Senior Special Adviser on Media and Publicity to the President, says the Federal Government is determined to enforce fiscal discipline across the states to check wasteful spending.

    Shehu in a statement issued in Abuja on Monday that the Federal Government was not limiting its economic and financial reform programmes to the centre alone.

    He said that the Federal Government would force the state governments to reform their spending and build savings and investments.

    The Presidential aide was reacting to […]

  • Why we’re borrowing to build infrastructure – Kemi Adeosun explains

    Why we’re borrowing to build infrastructure – Kemi Adeosun explains

    The Minister of Finance, Mrs. Kemi Adeosun, on Tuesday, explained that the Federal Government opted for a conservative borrowing plan to fund the critical sectors of the economy and to ensure that future generation is not saddled with the burden of debt payment.

    The Minister, who described borrowing as inevitable in view of current realities of the nation’s economy, spoke at a town hall meeting/policy dialogue for good governance organised by the Alumni Association of the National Association of the National […]