Nigeria’s Finance Minister, Taiwo Oyedele has said the Federal government will have to continue to borrow to finance its numerous projects.
He spoke at a Economic forum in Abuja, insisting that revenue targets of the Federal government have repeatedly been met.
Three years ago the Tinubu administration removed petroleum subsidies and the Federal government has been thumping its chest that it surpassed its revenue targets in the last 2 fiscal years.
However, the President Tinubu-led government has continued to take both foreign and local loans.
The Federal Government’s debt currently stands at $118.39 billion which is about ₦162.55 trillion.
(Follow AIT News on WhatsApp, AfricaIndependentTV on YouTube, ait_online on Facebook and X (Formerly Twitter), and officialait on TikTok, Instagram and Threads).
(Editor: Ken Eseni)
