Nigeria’s not broke – Finance Minister

Minister of finance, budget and national planning, Zainab Ahmed has said Nigeria is not broke.

She noted that the country continues to disburse funds to the three tiers of government through the federation accounts allocation committee.

Ahmed said the federal government has since 2015 disbursed N5.04 trillion to state governments.

She spoke at the presentation of President Muhammadu Buhari administration scorecard (2015-2023).

The minister explained that the non-oil sector drives the nation’s economy than the oil sector owing to vandalism of the oil infrastructure.

She also said oil production is increasing, stressing that as at October 2022, it soared to 1.4million barrels per day.