We will continue borrowing FG contradicts itself

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Federal-Ministry-of-Finance

The federal government has said that it would continue to borrow, contrary to the earlier, widely reported position of the Minister of Finance, Mrs. Kemi Adeosun.

At a Tuesday Business Forum at the Presidential Villa in Abuja, the Minister of Finance said Nigeria cannot continue borrowing but instead Nigeria just has to generate funds domestically enough to fund the budget; and also mobilize revenue to fund the necessary budget increase.

However, a statement by the Director of Information, Federal Ministry of Finance, Salisu Na’Inna Dambatta, stated that Nigeria will continue to borrow due to the fact that nothing has changed.

The Minister of Finance, Mrs. Kemi Adeosun stressed that Nigeria cannot rely on debt indefinitely and that they must be focused on a future where Nigeria can earn enough internal revenue to spend on the projects that will grow the economy.

BY NELSON