— Laments budget is too small to deliver essential services, can only pay salaries
The Minister of Finance, Mrs. Kemi Adeosun, Tuesday warned that the country must not borrow more to fund its budget and should instead raise money internally to fund the budget.
This is just as Acting President Yemi Osinbajo also solicited the co-operation of the private sector in the federal government’s quest for a better country, assuring it that the government has the will to turn the country around within 18 months.
The remark by the minister was a pointer that the country might shelve its planned $2 billion loans from the World Bank, Reuters reported.
Africa’s largest economy is in its first recession in 25 years, and had planned to borrow extensively from overseas to fund a record budget aimed at helping the country spend its way out of its economic doldrums.
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Nigeria Can’t Borrow Anymore, Warns Adeosun
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