Federal Government Must Not Borrow To Fund Its Budget - Kemi Adeosun

Federal Government Must Not Borrow To Fund Its Budget  - Kemi Adeosun

Against the backdrop of the nation’s rising debt profile, the Minister of Finance, Mrs. Kemi Adeosun, has said the Federal Government must not borrow more to fund its budget.

Adeosun said the government should instead raise the money needed by other means, calling into question planned foreign loans of $2bn from lenders like the World Bank, according to Reuters.

The minister’s comments, made at a business forum in Abuja, suggested that the government would no longer seek such loans, or an additional $1.5bn it had planned to raise from international debt markets.