Nigeria’s minister of finance on Thursday insisted that the country will continue to source for external loans to execute infrastructural projects across the country.
This assertion was made by the Minister of Finance, Budget and National Planning, Zainab Ahmed, during a press briefing at the State House, Abuja, while trying to justify the need for government to continue to borrow to provide basic infrastructural facilities, she said; ‘If we say we will not borrow and therefore not build rails and major infrastructure until our revenue rises enough, then, we will regress as a country, we will be left behind, we won’t be able to improve our business environment and our economy will not grow.’
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In line with this, the federal government also plans to send the 2021 supplementary budget to take care of COVID-19 palliatives to the National Assembly for approval in March or thereabout.
Speaking further the minister dropped a hint of plans by the government to present a 2021 supplementary budget to provide for COVID-19 palliatives to the legislative arm for approval by March, while a mid-year review of the budget will take place in June.
Experts and Nigerians generally have continued to express concerns over the country’s debt profile as no tangible infrastructure is being put in place to ensure that those loans could be easily paid back in the nearest future.
AFRICA DAILY NEWS, NEW YORK
