THERE WILL BE NO MORE BORROWING TO DEVELOP THE NIGERIAN ECONOMY, ACCORDING TO THE FEDERAL GOVERNMENT.

Tunji Wusu –

Wale Edun, the minister of finance and coordinating minister of the economy, has stated that the federal government has no plans to borrow from any local or foreign organization.

He talked with state house correspondents after the inaugural Federal Executive Council (FEC) meeting in Abuja on August 28, 2023.

The minister stated that the savings from the elimination of gasoline subsidies would be reinvested in numerous sectors to increase government income and improve the economic environment.

“Clearly, the F.G is unable to borrow at this time.” Instead, the focus must be on creating a stable macroeconomic climate. Stable inflation, a stable exchange rate, and an atmosphere in which people may come and invest, increasing output and further growing the economy.

Improve and increase jobs while lowering pov£rt. So, at this time, all reforms try to focus on what we call equity in order to encourage investment from Nigerians.