The federal government has reaffirmed its position that in spite of the growing apprehension over the nation’s mounting debt profile, Nigeria’s borrowing still remains low at 19 per cent to Gross Domestic Product when compared to Ghana, Brazil, South Africa, Egypt and Angola.
In a statement issued by her media aide, Paul Ella Abechi, the minister said: “In the borrowing, we are still at 19 per cent to GDP. Our borrowing is still low. What is allowed by our Fiscal Responsibility Act is the maximum of 25 per cent of our GDP, compared to other countries like Ghana, Egypt, South Africa, Angola and Brazil. We are the lowest in terms of borrowing.“What we have is revenue problem and when revenues perform the aggregate rate of 55 per cent.
According to her, unlike the previous regimes where subsidy was paid to marketers, this time around, “NNPC is the sole importer of petroleum products.” The minister assured that there is no intention to remove subsidy as reported in some sections of the media, adding that the government is yet to come up with any plan in that direction.
Source: Loan Digest (loandigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
At 19%, Nigeria's Borrowing-to-GDP Still Low, FG Insists - THISDAYLIVE*Says no plan to remove fuel subsidy Ndubuisi Francis in Abuja The federal government has reaffirmed its position that in spite of the growing apprehension over the nation’s mounting debt profile, Nigeria’s borrowing still remains low at 19 per cent to Gross Domestic Product (GDP) when compared to Ghana, Brazil, South Africa, Egypt and Angola. … You guys can continue to delude yourselves. We know this... what we saying is “Debt Service to Revs” ratio is high!!
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Our borrowing still at 19% to GDP – Finance minister – Daily TrustThe Minister of Finance, Mrs. Zainab Ahmed, has assured that Nigeria’s borrowing still remains healthy at 19 per cent to the Gross Domestic Product (GDP); which is low compared to Ghana, Brazil, South Africa, Egypt and Angola. In a statement, her Special Adviser on Media and Communication, Mr. Paul Ella Abechi, also said the minister … So what if our borrowing is lower than those countries u mentioned, most we borrow equal. See me see wahala. Collected depth na gud thing Borrowing to create wealth or to consume wealth?
Source: Daily Trust - 🏆 13. / 51 Read more »
Delay in passing 2019 budget will cause inflation, affect GDP – Experts – Daily TrustEconomic and financial experts have said delay in passing the 2019 budget will cause inflation and also affect the country’s Gross Domestic Product (GDP). The estimate of Nigeria’s income and expenditure for 2019 is yet to be passed by the country’s law makers, four months after it was submitted to the National Assembly by the … dose Nigeria have any Economy or what is the influence of the 2019 Budget? Abeg make we hear word.
Source: Daily Trust - 🏆 13. / 51 Read more »
Report: West Africa’s Mobile Money to Hit $70bn in 2023 - THISDAYLIVEEmma Okonji in Abidjan, Côte d Ivoire Riding on the success of mobile money growth in West Africa, with a contribution of over $50 billion in 2018, which is equivalent to 8.7 per cent of the region’s GDP, a new GSMA report has predicted that the West Africa mobile ecosystem economic contribution would continue to …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
At 19%, Nigeria's Borrowing-to-GDP Still Low, FG Insists - THISDAYLIVE*Says no plan to remove fuel subsidy Ndubuisi Francis in Abuja The federal government has reaffirmed its position that in spite of the growing apprehension over the nation’s mounting debt profile, Nigeria’s borrowing still remains low at 19 per cent to Gross Domestic Product (GDP) when compared to Ghana, Brazil, South Africa, Egypt and Angola. … You guys can continue to delude yourselves. We know this... what we saying is “Debt Service to Revs” ratio is high!!
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Rising Debt: We are Mindful of Our Borrowings, FG Insists - THISDAYLIVEBy Nume Ekeghe The Minister of Finance, Mrs. Zainab Ahmed, has stated that while the federal government borrows to deliver on its promises, it was also mindful of rising debt burden, which eats up about 25 per cent of the country’s annual earnings. Ahmed said this in an interview with the News Agency of Nigeria …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Our borrowing still at 19% to GDP – Finance minister – Daily TrustThe Minister of Finance, Mrs. Zainab Ahmed, has assured that Nigeria’s borrowing still remains healthy at 19 per cent to the Gross Domestic Product (GDP); which is low compared to Ghana, Brazil, South Africa, Egypt and Angola. In a statement, her Special Adviser on Media and Communication, Mr. Paul Ella Abechi, also said the minister … So what if our borrowing is lower than those countries u mentioned, most we borrow equal. See me see wahala. Collected depth na gud thing Borrowing to create wealth or to consume wealth?
Source: Daily Trust - 🏆 13. / 51 Read more »
CBN’s Forex Policy Working, FG Insists - THISDAYLIVEObinna Chima with agency report The Central Bank of Nigeria’s (CBN) current foreign exchange (forex) policy is working well and is unlikely to be changed anytime soon, the Minister of Information, Alhaji Lai Mohammed, said Thursday. He also commended efforts of the CBN Governor, Mr. Godwin Emefiele, in ensuring exchange rate stability as well as … Buhari should retain the CBN governor, the man has done a good job!
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Nigeria’s Economy Growing Under Buhari, Adesina Insists - THISDAYLIVESegun James The Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, Thursday stated that the Nigeria’s economy has been growing robustly since 2016 but only the opposition elements have refused to acknowledge this growth. Adesina who made the declaration at the 2nd Annual Lecture of Freedom Online held in Lagos, said … Lately some folks are behaving like Lai Mohammed is retiring soon. Allah punish you for the lies Hell awaits you people
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
FG: Kajuru Attack Setback for Promotion of Tourism in Nigeria - THISDAYLIVEThe Minister of Information and Culture Lai Mohammed has described Friday’s attack on the Kajuru Castle Resort, a popular resort in Kaduna State, as “a setback to efforts to promote tourism in the country”. In a statement issued on Tuesday in Abuja, the minister, on behalf of the federal government, condoled with the families of … I said before you cannot setup good tourism establishment without good security, good roads, good policing, good housing and electricity.
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Debt: We are mindful of our borrowings, says FG – Daily TrustThe Minister of Finance, Mrs Zainab Ahmed has said government borrows to deliver on its promises, it was also mindful of rising debt burden, which eats up about 25 per cent of the country’s annual earnings. Ahmed said this in an interview with the News Agency of Nigeria (NAN) on the side-line of the IMF/World … Imagine the people will put in power can borrow funds and Mtn will still be saying 'you are not eligible to borrow credits'😂😂 *Etisalat Bonanza* 5gb 1800 10gb 3000 15gb 4500 20gb 5000. A month validity... Call/WhatsApp 07033351123 *Etisalat Bonanza* 5gb 1800 10gb 3000 15gb 4500 20gb 5000. A month validity... Call/WhatsApp 07033351123
Source: Daily Trust - 🏆 13. / 51 Read more »