With mounting criticisms over the country’s rising debt stock, the Minister of Finance, Budget and National Planning, Zainab Ahmed, told PREMIUM TIMES’ Business Editor, Bassey Udo, that only time will vindicate the current administration’s decision to borrow big to develop infrastructure, grow the economy and create wealth. The minister, during the exclusive interview in her office in Abuja to mark her one year in office, said that the situation could have been worse but for the government’s proactive fiscal measures to push back on the impact of COVID-19 on the global economy. Excerpts:

PT: You are one of the few ministers in recent history to combine three powerful portfolios – Finance, Budget and National Planning. How much of a challenge is this on your shoulders?

AHMED: Well, it’s not so much a challenge, because I do not work alone. In his second term, the President, in his wisdom, formed the Ministry of Finance, Budget and National Planning, bringing together the planning and budgetary functions of the government.

The essence of the decision was for the country’s budget implementation to be guided by the government plans. Over the years, planning and budgeting processes were not going together.

In his first tenure, that objective was largely achieved. But, with some identified gaps between what the Ministries of Planning and Finance were doing, specifically as related to the government’s budget function, in terms of preparation, execution and monitoring/evaluation, there was (a) need for the merger.

As a minister, my role was to coordinate the three major functions. And I must say my job has not been as challenging as one would think, because I have a solid support base from the Minister of State for Budget and National Planning and three capable Permanent Secretaries in the Ministry of Planning and two others in the Ministry of Finance.

We keep making progress on a daily basis, because we have the right core structures in place. Apart from the new ministries, the team collectively supervises about 18 agencies, with shared supervisory responsibilities among directors representing the Ministries in most of the Boards of those agencies.

We have a system of tracking performances and determining what is working and what is not. On a weekly basis, we have management meetings to review updates on what progress and challenges have been identified as well as refine efforts to achieve overall goals and objectives on (an) ongoing basis.



https://www.premiumtimesng.com/news/headlines/413577-interview-nigerias-rising-debt-time-will-vindicate-buharis-govt-finance-minister.html

This woman must be Lai Mohameds twin.........

He has long been vindicated- the financial crunch being visited upon Nigerians after the chronic debt pillage his government have incurred is being felt in all aspects of our national life.No nation survives on borrowing.Debt servicing is not debt payment if you know Mrs.finance minister.

As long as people in some states line up to collect daily rations sponsored by corrupt elements from the government, and they are the first to collect pandemic handouts and npower payments, they will always be grateful to his government. They will vote him again for a third term and he’ll rig himself back to office with help from bourdillon!

Madam.. you are just recommending loan everywhere. What have you done to ensure that we reduce our debt profile? This is too much. If we cannot reasonably pay a loan, we shouldn’t be collecting it. There are other ways to go around this. Use your brain and if you don’t have, father experts to help you think. Nigeria is rich in every way, we shouldn’t be taking loans like this.

Saying good things of your employer, if you condemned him I'd be surprised

The fear of China is the beginning of Wisdom , China will take over some assets in some few years to come .

Abuja Kaduna Rail line
Lagos ibadan Rail Line
Zungeru Power Project
Mambilla Power project
Abuja Metro rail line
Lagos Kano rail Line.

Nigeria cannot pay back the loans used to build these, this is why i urge IPOB members to sheath their swords and watch God fight their battles.
Oil price is stagnant and The Tesla's and other electric car companies are coming



Stop loosing your members to irate Nigerian Military , buy your pop corn and juice and watch the Nigeria comedy from a distance

With a 'loan begging mentality' finance minister like this small wonder all his economic policies are geared towards impoverishment of the average Nigerian!

History and vindicate surely will not be words that can be associated with this government in the nearest or distant future.

kettykin:
The fear of China is the beginning of Wisdom , China will take over some assets in some few years to come .

Abuja Kaduna Rail line
Lagos ibadan Rail Line
Zungeru Power Project
Mambilla Power project
Abuja Metro rail line
Lagos Kano rail Line.

Nigeria cannot pay back the loans used to build these, this is why i urge IPOB members to sheath their swords and watch God fight their battles.
Oil price is stagnant and The Tesla's and other electric car companies are coming



Stop loosing your members to irate Nigerian Military , buy your pop corn and juice and watch the Nigeria comedy from a distance

the mambilla is $5 billion.it was and is an unnecessary project but I don't know who convinced bihari to be involved.

Nigeria in the hands of these thieves is dead.


But one is sure, it's only for a while.

Something heavy is brewing!!!!

Lol.

Lol so you need another term
Don't even go there cos this time around you would lose Kano

Madam, is the time based on the ongoing projects as promised or clearing all the debts before exiting office in 2023?

-We know both are not achievable, but can he completely achieve one of them before 2023..?

Wetin dey knack?