FINANCE MINISTER: NIGERIA IS NOT POOR.

The FG has stated again that the nation is not insolvent and can pay its debts in the short, medium, and long timeframes. This was said by Mrs. Zainab Ahmed, Minister of Finance, Budget, and National Planning, on December 1 in Abuja during the 6th edition of President Buhari’s scorecard.

She asserted, “Nigeria isn’t bankrupt. On a regular basis, we continue to make money, and FAAC distributes that money. We also reveal how much money each month is given to the three levels of government.

Additionally, we have seen a sharp rise in non-oil revenue. Unfortunately, criminal activity has caused the oil industry’s revenue to underperform. However, the NNPC recently claimed that criminal activity has been reduced, and production levels are starting to increase. This implies that the government will receive more money. We have to borrow since our resources are insufficient to meet our needs. The vice president serves as the chairman of a debt management board.