Nigeria’s level of borrowing not high and unreasonable – Finance Minister asserts

Nigerian Minister of Finance, Zainab Ahmed, said the country’s borrowing under the Buhari’s-led administration is not unreasonable and it’s also not too high.

Ahmed made this affirmation while speaking at a media briefing at the State House Abuja on Thursday when she was responding to the criticism regarding high levels of borrowing by Buhari’s administration.

She further states that Nigeria as a country cannot make progress if it doesn’t borrow funds to build infrastructure and attend to national needs.

Zainab said, “the country will not only regress but be left behind if we fail to improve our business environment.”

“The level of borrowing is not unreasonable, and it is not high. If we say we will not borrow, it merely means that we won’t be building major infrastructure until our revenue rises enough, and we will regress as a country.

The finance minister further reiterates that they (The government) need to only apply the loan to major infrastructure.

“We will be left behind. We wouldn’t be able to improve our business environment, and our economy will not grow.

“We just need to make sure that when we borrow, we apply the borrowing to specific major infrastructure that would enhance the business environment in this country,” she said.

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