, warned both the executive and the National Assembly against endangering the future of the country.
The meeting was presided over by the President, Major General Muhammadu Buhari , at the Presidential Villa, Abuja.The minister said it was necessary that the government would continue to borrow to in order to fund developmental and infrastructure projects as it does not get enough from its revenues. “Nigeria’s borrowing, has been of great concern and has elicited a lot of discussions. But if you look at the total size of the borrowing, it is still within healthy and sustainable limits. As at July 2021, the total borrowing is 23 per cent of GDP.”
“When you compare our borrowing to other countries, we’re the lowest within the region, lowest compared to Egypt, South Africa, Brazil, Mexico, the very lowest, and Angola.“We do have a problem of revenue. Our revenues have been increasing. We just reported to council that our revenues from non-oil have performed, as of July, at the rate of 111 per cent, which means outperforming the prorated budget.
She also disclosed the key assumptions and targets underlying the budget provisions including oil price – $57 per barrel; oil production – 1.88 mbpd; exchange rate – N410.15/US$; oil revenue – N3.15tn and non-oil revenue – N2.13tn. “We now have a very large number of fertiliser blending plants, about 42, that are operating at full capacity. We also have a large number of rice mills that didn’t exist before.
Which yeye experts? 😀
What other future is left?
Please which future again
Feel the pain now, solve the real issues, be proud of your contributions to better the lives of people and die a happy man.
Do we have any future in Nigeria?
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