Federal Government will not make progress unless it borrows -Zainab Ahmed

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Federal-Ministry-of-Finance

The Federal Government will not make progress unless it borrows more to fund critical infrastructure in the country, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said.

Mrs. Ahmed spoke on Thursday during the maiden edition of the weekly special ministerial media briefing, organised by the Presidential Communications Team.

She said though the country had expanded its borrowing, it was still below 25 per cent debt-to-GDP ratio and within borrowing limit.

Mrs. Ahmed’s argument was however faulted by the former President, Chartered Institute of Bankers of Nigeria, Okechukwu Unegbu, who said the Minster failed to give details of the key infrastructure where the planned new loans will be channeled into.