The Minister of Finance, Mrs. Zainab Ahmed, has stated that while the federal government borrows to deliver on its promises, it was also mindful of rising debt burden, which eats up about 25 per cent of the country’s annual earnings. Ahmed said this in an interview with the News Agency of Nigeria on the side-line of the just concluded IMF/World Bank meetings, which took place in Washington DC. Nigeria currently has an external debt stock of about $24.27 billion as at December 31, 2018.
Euro bonds, loans from World Bank Group, China and Africa Development Bank Group make up over 80 per cent of the country’s debt stock. Ahmed insisted that in spite of warnings by the IMF and World Bank, the country was not in any way near a debt crisis. “The World Bank and IMF are cautioning us on the rate at which we are borrowing. “They are also cautioning us on the need to build fiscal buffers because the global economy is going to be facing some risks and we agree with that.
“What we are doing is to increase our revenue generating capacity to make it easier for us to meet our debt obligations and our routine as well as capital expenditure,’’ she said. NAN had raised concerns about whether the Chinese loans to finance the Idu-Kaduna, Lagos-Ibadan and Abuja light rail projects, the expansion of four airport terminals and some hydroelectric projects across the country were healthy for the nation’s economy.
“So far, the conditions we’ve got are very good ones,’’ she said. Ahmed restated the commitment of the President Muhammadu Buhari-led administration to ensure that the country grows in a manner that would bring many people out of poverty. According to her, it is for this reason that the government takes its social investment programmes like the school feeding, Conditional Cash Transfers to the poor and vulnerable and trader moni programme, very seriously.
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Rising Debt: We are mindful of our borrowings, says FG - The Nation NewspaperThe Minister of Finance, Mrs Zainab Ahmed says while government borrows to deliver on its promises, it was also mindful of rising debt burden,
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Rising Debt: We are mindful of our borrowings, says FG - Vanguard NewsThe Minister of Finance, Mrs Zainab Ahmed says while government borrows to deliver on its promises, it was also mindful of rising debt burden, which eats up about 25 per cent of the country’s annual earnings. vanguardngr Who is this? vanguardngr U are mindful NOT we... Cos Ur boss is NOT cognitively capable of explaining the basis for borrowing astronomically..well I guess d rice in Kano will suffice to clear dis debt n dat which is to come($200+) for electrification vanguardngr Kindly tell us what your REPAYMENT PLAN and TIMELINE for it. NB Not forecasts!
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Debt: We are mindful of our borrowings, says FG – Daily TrustThe Minister of Finance, Mrs Zainab Ahmed has said government borrows to deliver on its promises, it was also mindful of rising debt burden, which eats up about 25 per cent of the country’s annual earnings. Ahmed said this in an interview with the News Agency of Nigeria (NAN) on the side-line of the IMF/World … Imagine the people will put in power can borrow funds and Mtn will still be saying 'you are not eligible to borrow credits'😂😂 *Etisalat Bonanza* 5gb 1800 10gb 3000 15gb 4500 20gb 5000. A month validity... Call/WhatsApp 07033351123 *Etisalat Bonanza* 5gb 1800 10gb 3000 15gb 4500 20gb 5000. A month validity... Call/WhatsApp 07033351123
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Finance minister defends Nigeria's rising debts - Premium Times NigeriaZainab Ahmed, says while government borrows to deliver on its promises, it was also mindful of rising debt burden, which eats up about 25 per cent of the country’s annual earnings. Till we are choked right? Instead of seek way to pay themand stop taking loan you're busy defending debts. Shame Ineffectual Finance minister, convinced prayer can deliver Nigerian economy, Buhari's men And women so indolent & vain towards the citizens daily suffering.
Source: PremiumTimesng - 🏆 3. / 78 Read more »
FG, Nigeria’s debt profile and IMF – Daily TrustRefreshing the memories of Nigerians before discussing the views of the International Monetary Fund (IMF) on Nigeria’s public debt of N24.837 trillion and fears that the debt could be unsustainable is necessary to put matters in context. It is on record that while responding to the IMF’s comments, Minister of Budget and National Planning, Udoma …
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FG to begin payment of N10.3 bn debt to Agro-dealers this week – Official – Daily TrustThe Federal Government will this week commence the payment of the N10.3 billion debt owed Agro-dealers in the country, Alhaji Kabiru Umar-Fara, National Chairman, Agro Dealers Association, has said. Umar-Fara said the N10.3 billion outstanding debt accumulated under the Growth Enhancement Support (GES) scheme run during former President, Goodluck Jonathan’s administration.ADVERTISEMENT He told the News …
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NECA to FG: Remove oil subsidy, manage debt profile – Daily TrustThe Nigeria Employers’ Consultative Association (NECA) has called for the deregulation of the downstream sector of the oil and gas industry to boost the economy. The Director General of NECA, Mr. Timothy Olawale, at a stakeholders’ meeting of manufacturers on Monday in Lagos, said except fuel subsidy was removed, Nigerians would continue to suffer intermittent …
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