While speaking with journalists at the ongoing Spring meeting of the International Monetary Fund. The Minister of Finance, Mrs. Kemi Adeosun has said Nigeria does not need the help of the World Bank in assessing its debts level.

“We don’t need the World Bank if they want to come and help us, great, but we don’t need them,” the minister said while emphasizing that Nigerians and the Debt Management Office (DMO), are all the FG needs in assessing the nation’s debt level.

She also said the Nigerian government had no other option than to borrow to bring the country out of recession.

The Minister said, “There were two options to end recession; one was cut back, lay people off and wait for oil prices to recover or be more aggressive, expand your budget, take on more debts and invest in infrastructure in hope that you will get growth going to develop more revenue.

We’ve expanded our budget, we pumped money into the economy, we made sure recession was not prolonged.

We are now back into growth, we need to accelerate that growth and focus on revenue mobilization which in turn will reduce our debt pressures. If we were still in recession, we’d have far bigger problems.

I think what people haven’t realized is how much work had to be done to make sure that that recession was as short as possible because that would have caused real pain for the people. We shortened it, we had to borrow to do so and we make no apologies for that.”

Source:
http://www.nairaplus.com/2018/04/we-dont-need-your-help-on-our-debts.html

Another gaffe! She will soon come out to deny it. She's obviously frustrated that the world bank is not buying into their kangaroo economic plans.

Then 'The Lord of Shit and Mess Clearing', Femi Adesina will come out to insult us again that we don't understand simple English...

#BuhariMustGo!

Oh my

A woman minister always behaving the same

Tomorrow she ll refute it as usual.. shameless pple..

Nice option. Some people will comment without reading the full text, lazy **.

God bless my President.

Femi Adesina will soon come and rearrange the comment.

useless woman

Hmmm

So Mrs Finance minister, having said we don't need the help of father christmas ( world bank), how will Buhari's body language help us to effectively assess and pay back these trillions of naira we owe as debt? Doesn't she know that data from any Nigerian financial institution are more often than not unreliable and riddled with all sorts of fraud? Believe it or not, World bank will do a more excellent job at assessing our debt profile anytime any day.

I strongly believe that this so called finance minister doesn't understand a single thing about Nigerian economics or accounting, not to mention running the financial institution of a 3rd world country like ours.

This APC party and her leaders are a huge joke. #lazy&dullNigerianLeaders.

[s]

salvationproject:
My fellow Nigerians, one good reason why we should vote for President Muhammadu is because he is a truthful man and a man of integrity and as the saying goes "Only those who love you will tell you the truth".
He just said the truth that Nigerians youth are uneducated and lazy, it is now left for Nigerian youths to go to school properly not graduating from university and you cannot spell "Boiys", be creative not studying electrical engineering and you cannot fix common bulb and be hardworking not graduating from school and waiting for government to provide everything because we are an oil producing country.
TO SUM IT UP, MY FELLOW COUNTY PEOPLE, LET'S COME TOGETHER AND SUPPORT THE MAN WHO REALLY MEANS WELL FOR NIJERIA.
GET YOUR PVC AND VOTE PMB FOR PRESIDENT 2019 INSHA ALLAHU

[/s]

There is something wrong with kemi Adeosun. I found her to be very unstable and possessed. She needs a cathartic experience that will restore her sanity. At the time being, she speaks like a mad person.

AUNTY SPEAK FOR YOURSELF OOO!!! Dear World bank she doesn't speak for all of us!!!

CoolFreeday:
Nice option. Some people will comment without reading the full text, lazy **.


God bless my President .

And, what the hell do we need to focus on again? “We don’t need the World Bank if they want to come and help us, great, but we don’t need them,”

My second sugarmummy has gone mad again.

Make dem no just spoil show for the coming government cause surely we taking over

dodelight:
Another gaffe! She will soon come out to deny it. She's obviously frustrated that the world bank is not buying into their kangaroo economic plans.

Then 'The Lord of Shit and Mess Clearing', Femi Adesina will come out to insult us again that we don't understand simple English...

#BuhariMustGo!

my brother he must go ooo

I just came for the comments

When a mad person dance in the street

His or her people feel ashamed

Nah so

Abeg check out my signature

what else do we expect from London polytechnic graduate

A

olodo minister

Ahhh...what is all these for goodness sake? If your Oga does not know how to talk, you sef will not? Haba!

It's like meeting your office mate trekking and offering him a lift and he says..."No, I'm in a hurry".

I laugh

My fellow Nigerians, one good reason why we should vote for President Muhammadu is because he is a truthful man and a man of integrity and as the saying goes "Only those who love you will tell you the truth".
He just said the truth that Nigerians youth are uneducated and lazy, it is now left for Nigerian youths to go to school properly not graduating from university and you cannot spell "Boiys", be creative not studying electrical engineering and you cannot fix common bulb and be hardworking not graduating from school and waiting for government to provide everything because we are an oil producing country.
TO SUM IT UP, MY FELLOW COUNTY PEOPLE, LET'S COME TOGETHER AND SUPPORT THE MAN WHO REALLY MEANS WELL FOR NIJERIA.
GET YOUR PVC AND VOTE PMB FOR PRESIDENT 2019 INSHA ALLAHU

everybody in this regime seems to talk before they think. this statement is very callous and irresponsible.

Huh

Yes o. They should let us solve our own problem in our own way..

IMF douses fears on Nigeria’s rising debts profile

Contrary to increasing fears of negative outcome from Nigeria’s rising external and domestic debts, which many believe are back to pre-2015 levels to fund infrastructure development and budgets, the International Monetary Fund (IMF), yesterday said there is merit in this strategy.
The country’s total external and domestic debts according to the Debt Management Office (DMO), stood at about $18.9 billion, and N15.9 trillion respectively, as at March 2018, which reignited concerns that the country could be headed for another round of financial crisis, saying that servicing cost of over 60 per cent of revenues could be a burden to the country.

But the IMF said the Federal Government’s preference for more external debts relative to domestic has some merits, as Assistant Director, Fiscal Affairs, Catherine Pattillo, argued that “Factors that support Nigeria’s current external debt-to-GDP ratio is low so the external interest payments are relatively low,” adding that “The benefits of that switch is a reduction in overall interest payments and a lengthening of maturities.”

The Director General, DMO, MS Patience Oniha, had earlier dismissed repayment concerns, saying that at 18.2 per cent of Gross Domestic Product (GDP), Nigeria’s public debt remained sustainable, adding, “Our projection is that from two sources, the borrowing should be dropping in the medium term.”

A recent report by global rating agency, Standard and Poor’s (S&P), had also forecast that, “Overall, Nigeria’s gross general government debt stock (consolidating debt at the federal, state, and local government levels) will average 27 per cent of GDP for 2018-2021, comparing favourably with peer countries’ ratios.”


https://guardian.ng/news/imf-douses-fears-on-nigerias-rising-debts-profile/