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Nigeria’s Minister of Finance, Budget, and National Planning, Mrs. Zainab Ahmed, has explained why the Federal Government will not end borrowing money from other countries anytime soon.
Speaking during an interview with newsmen in Abuja on Monday, the Minister revealed that the government was borrowing to invest in infrastructure in the country.
According to her the Federal Government’s borrowing is sensible and responsible contrary to public opinions.
‘I have said it several times that the problem we have in Nigeria is that of revenue.
‘We are borrowing sensibly and this is because we want to invest in infrastructures like power, water, roads, and rails which are investments that are required to enhance business productivity in the country today.
‘These businesses will grow, they will not only pay taxes, but they will also employ people.
‘If we don’t do this, we will regress even from where we are today. Borrowing is a necessary investment and we are doing it responsibly,’ she said.
AFRICA DAILY NEWS, NEW YORK