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FG justifies borrowing, insists loans used for infrastructure development

The Federal Government on Thursday insists it will continue to source for external loans to execute infrastructural projects across the country.  It also plans to send 2021supplementary budget to take care of COVID-19 palliatives to the National Assembly for approval in March.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, who said this during a press briefing at the State House, Abuja justified the need for government to continue to borrow to provide basic infrastructural facilities, saying: “If we say we will not borrow and therefore not build rails and major infrastructure until our revenue rises enough, then, we will regress as a country, we will be left behind, we won’t be able to improve our business environment and our economy will not grow.”

She also spoke of plan by government to present a 2021 supplementary budget to provide for COVID-19 palliatives to the legislative arm for approval by March, while a mid-year review of the budget will take place in June.



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