Nigeria won’t make progress without more borrowing – Finance Minister

The minister of finance, budget and national planning, Mrs. Zainab Ahmed has said the federal government will not make progress unless it borrows more to fund critical infrastructure in the country.

She spoke during the maiden edition of the weekly special ministerial media briefing, organised by the presidential communications team.

She said though the country had expanded its borrowing, it was still below 25 per cent debt-to-GDP ratio and within borrowing limit.

The minister added that the total borrowing of the country as at 31st of December is 21.6 per cent of the GDP.