Finance Minister: Nigeria Will Continue to Borrow to Build Infrastructure
The federal government on Thursday insisted that it will continue to source for external loans to execute infrastructural projects across the country.
It also plans to send 2021supplementary budget to take care of COVID-19 palliatives to the National Assembly for approval in March.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, who made this known during a press briefing at the State House, Abuja justified the need for government to continue to borrow to provide basic infrastructural facilities, saying: “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.”
She also hinted of plan by 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.