Wale Edun Says FG Will Now Rely Less On Borrowing - Politics

Wale Edun Says FG Will Now Rely Less On Borrowing - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › Wale Edun Says FG Will Now Rely Less On Borrowing (6439 Views)

Wale Edun Says FG Will Now Rely Less On Borrowing by Omooba77(op): 1:31pm On Jan 20

The Federal Government plans to rely more on domestic resources and reduce its dependence on borrowing.

Minister of Finance Wale Edun said this while speaking on Bloomberg Television at the World Economic Forum in Davos, Switzerland, on Tuesday.

Edun emphasized the need to focus on revenue generation.

He added that while the country could access international bond markets, if necessary, the government’s priority is to mobilize its own resources.

The minister’s remarks come as Nigeria implements fiscal reforms aimed at strengthening its economy.

What the Minister is saying

Edun outlined the government’s efforts to raise tax revenue and strengthen fiscal sustainability amid mounting global economic pressures.

He also highlighted strategies aimed at reducing borrowing while expanding revenue generation.

“The issue now is to focus on revenue, focus on domestic resource mobilization,” he said.

“We’re hoping to rely less on borrowing,” he added.

The minister also noted that Nigeria remains open to international capital markets if needed, but domestic reforms are central to the government’s fiscal policy.

Since taking office in 2023, President Bola Tinubu’s administration has introduced several economic reforms to drive growth and stabilize public finances.

These measures include removing currency restrictions, ending a costly fuel subsidy, and overhauling the nation’s tax framework.

Tax reforms aim to raise revenue to 18% of GDP next year, up from roughly 14% currently.
Policies target long-term economic sustainability while reducing reliance on external debt.
These initiatives are part of broader efforts to modernize Nigeria’s economy and strengthen investor confidence.

What you should know

Economic forecasts indicate Nigeria’s reforms are showing early signs of progress.

The International Monetary Fund upgraded Nigeria’s growth forecast to 4.4% for 2026, up from an estimated 4.2% in 2025.

This comes despite weaker oil prices, Nigeria’s top export and major foreign-exchange earner.
Government reforms are expected to further stabilize revenue collection and support fiscal sustainability.

The combination of domestic resource mobilization and ongoing reforms underscores Nigeria’s effort to reduce debt dependence and strengthen its economic foundations.

Earlier, Nairametrics reported that Edun will use the World Economic Forum (WEF) Annual Meetings in Davos to address investor concerns around policy consistency, inflation, foreign exchange stability, and fiscal sustainability.

Nigeria’s message at WEF 2026 is shaped by wider global realities affecting emerging markets.

Nairametrics earlier reported that Nigeria will debut its first-ever official national pavilion, Nigeria House Davos, at the 56th Annual Meeting of the World Economic Forum (WEF) 2026.

The Minister earlier stated that interest ra
te cuts may come soon if inflation keeps easing, a move that could reduce debt-servicing costs and ease pressure on Nigeria’s strained public finances.
He made the statement during an interview on the sidelines of the Abu Dhabi Sustainability Week.

https://nairametrics.com/2026/01/20/wale-edun-says-fg-will-now-rely-less-on-borrowing/

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by Mrchippychappy(m): 1:42pm On Jan 20

Dem still dey borrow, only this time dem dey use Gun borrow from Nigerians

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by SalamRushdie: 1:42pm On Jan 20

They are in their 3 rd year and have achieved nothing

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by Lanretoye(m): 1:42pm On Jan 20

We can use some people to borrow money self,all those racoons and his likes

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by Sermwell(m): 1:43pm On Jan 20

Do you know there are those that will believe this nonsense??

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by Exceed15: 1:43pm On Jan 20

It seems edun illness has been transferred to his brain

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by Urgent1Million: 1:43pm On Jan 20

Why would they even have to borrow when their taxes are strangling.
But I trust the Bulaba crooner to scale up his borrowing any time from now.
I can bet Blord's left testicle that Wale did not get authorisation from the presidency before making these comments.
Again I ask; WHERE IS FEMI GBAJABIAMILA huh

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by TheStoriesOfMan: 1:43pm On Jan 20

"Wale Edun Says FG Will Now Rely Less On Borrowing"

Less on borrowing and more on illegal taxation?

Wow, just wow!

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by Freshandfitpod: 1:44pm On Jan 20

For how long will they keep repeating these old talking point?

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by TimiofAbuja: 1:44pm On Jan 20

using our hard earned money to flex

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by Nifemy4(m): 1:44pm On Jan 20

what des this mean to an average nigerian on the strreet of lagos or katsina mtewwwww sick people

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by Administration1: 1:46pm On Jan 20

Pay local contractors. You cannot seem to talk about increase revenue without paying local contractors

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by ogascomax: 1:46pm On Jan 20

This government once said that they won't borrow but they end up borrowing heavily and setting and breaking records.

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by evanpass: 1:46pm On Jan 20

When buhari was borrowing this people foot soldiers were crying that buhari will borrow and live nothing for coming generation not knowing this one will be worse with high income from Petrol and tax with out nothing to show for it.

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by Cj4charles(m): 1:52pm On Jan 20

After killing it's citizens with tax

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by ogaemma: 1:53pm On Jan 20

Wale Edun now Wale the Lier.
Believe him at your own peril.
The only Truth they know for now is that 2027 is the general election.

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by Jerrynet: 1:54pm On Jan 20

Omooba77:
https://nairametrics.com/2026/01/20/wale-edun-says-fg-will-now-rely-less-on-borrowing/

ALLEGATIONS OF VICTIMISATION OF SCHOOL ADMINISTRATORS IN RIVERS STATE

There is growing tension and unrest in Rivers State secondary schools following reports that some Principals, Vice Principals, Head Teachers, and their Deputies are being punished for allegedly supporting former Governor Nyesom Wike.

According to reports, several Principals perceived to be loyal to Wike have been transferred to schools with poor and unconducive working conditions, while others have reportedly been removed from their administrative positions and redeployed to classroom teaching duties after serving for many years as Principals or Vice Principals.

A source within the Rivers State Universal Basic Education Board (RSUBEB) alleged that officials were instructed to use any available excuse to demote or redeploy school administrators believed to be loyal to Wike. This development has generated widespread concern within the education sector.

One teacher from a secondary school in Port Harcourt appealed to the Nigerian Union of Teachers (NUT) to intervene and prevail on Governor Siminalayi Fubara to reverse the alleged directive. The teacher emphasized that not all affected administrators are political loyalists, stressing that many of them are career civil servants who have faithfully carried out their duties without violating any civil service rules.

Further investigations revealed that the Board allegedly relied on questionable grade-level justifications to demote some school heads. A source at the Board described the action as improper and contrary to civil service procedures, noting that it is wrong to remove a duly appointed school head or vice principal who has not been found guilty of any misconduct or breach of civil service regulations.

The source further questioned the rationale of asking a school administrator to vacate office and return to classroom teaching solely on the grounds that there are teachers senior in rank within the same school, despite the individual having been formally appointed to the position.

In view of these developments, stakeholders are calling on Governor Siminalayi Fubara to urgently look into the matter. Reports indicate that several affected administrators have refused to vacate their offices or hand over, insisting that due process must be followed.

Re: Wale Edun Says FG Will Now Rely Less On Borrowing by sacajawea(m): 1:54pm On Jan 20

Shey update don dey now?
Dollar for Naira?

Re: Wale Edun Says FG Will Now Rely Less On Borrowing by Racoon(m): 1:55pm On Jan 20

Another lamba! Though FG have reached revenue target before now? Which one be later stop borrowing?

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by tophumble(m): 1:56pm On Jan 20

This is good news

I just hope they are not saying the opposite

Re: Wale Edun Says FG Will Now Rely Less On Borrowing by ngmgeek(m): 1:56pm On Jan 20

Some people are scared to comment on this, because of data money they collected from Bulaba and his people.
grin

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by iwaeda: 1:57pm On Jan 20

They have started again, by January 26, we will see loan request. They promised once subsidy is gone, more than enough money to spend. The prodigal leaders. grin

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by wonlasewonimi: 2:07pm On Jan 20

This means they are about to borrow again.

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by Kalulu44: 2:07pm On Jan 20

Mrchippychappy:
Dem still dey borrow, only this time dem dey use Gun borrow from Nigerians

Hahahaha, walai talai Nigerians una funny die aswear

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by Confirm4real(m): 2:08pm On Jan 20

Only Agbadorians will believe cheesy

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by tnerro1(m): 2:14pm On Jan 20

2027 elections is around the corner, all propagandas must work overtime . If the masses are feeling the results of ur policies, there will be no need for propaganda up and down

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by RedChair: 2:15pm On Jan 20

But in a few weeks we will see yet another unprecedented amount being borrowed!

After subsidy removal, higher taxes and more!

What exactly are you people doing with these monies?!

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by Tooreda: 2:16pm On Jan 20

BATSTARDS. BATSTARDS. BATSTARDS.

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by Ejebleje: 2:23pm On Jan 20

And more on multiple taxation and levies

Re: Wale Edun Says FG Will Now Rely Less On Borrowing by reddingtonblack: 2:23pm On Jan 20

Sounds good for ear ... buh how realistic

1. is crude sellin above or below budget benchmark

2. Is Nnpc now producing more crude for export or we have others things to export More

To stop borrowing means We have a sure means of high Revenue to meet our budget

Re: Wale Edun Says FG Will Now Rely Less On Borrowing by Eleph(m): 2:30pm On Jan 20

Borrow borrow government!
Bambialla government of deceit!

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Re: Wale Edun Says FG Will Now Rely Less On Borrowing by fabolouz1(m): 2:30pm On Jan 20

Another finance minister who doesn't know his job just like the one before him who only relies on voodoo economics.

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