In an apparent reversal of her earlier position that the Federal Government can no longer continue borrowing, the Minister of Finance, Kemi Adeosun, through an official statement from her ministry, stated that borrowing will continue in order to pursue the Economic Recovery and Growth Plan (ERGP).

Adeosun had said on Tuesday at the Presidential Quarterly Business Forum at the Presidential Villa in Abuja that the Federal Government “cannot borrow anymore.”

She stated that “We cannot borrow anymore, we just have to generate funds domestically enough to fund our budget, mobilize revenue to fund the necessary budget increase.”

She added that “Given the reform in the Federal Inland Revenue Service (FIRS), the country can raise the needed fund within its shores.”

Full details: https://www.ripplesnigeria.com/adeosun-backtracks-says-govt-will-continue-borrowing/