borrowing – InfoStride News

FIRS Backs Federal Government’s Borrowing Strategy, Says Framework Remains Sustainable

Temitope Nlewemchi — Wed, 28 Jan 2026 15:00:45 +0000

The Federal Inland Revenue Service (FIRS) has defended the Federal Government’s borrowing framework, insisting that the country’s debt profile remains within sustainable limits when weighed against ongoing reforms, projected revenue growth, and fiscal consolidation plans. Speaking against the backdrop of mounting concerns over Nigeria’s rising debt stock and borrowing costs, the FIRS emphasized that public [...]

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We Resisted The Temptations Of Funding The Budget Through Borrowing – Wike

David Folami — Sat, 13 Jan 2018 09:53:11 +0000

Governor Nyesom Wike has said that the state’s 2017 Budget recorded 74 per cent performance, representing significant improvement on that of 2016. Wike said that aggregate revenue receipts as at December 31, 2017 stood at N278.2 billion, representing only 69 per cent of total projected revenue. “This left us with a shortfall of over N192 [...]

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Buhari Seeks Senate’s Approval Of $6.93B Borrowing Plan

David Folami — Thu, 27 Apr 2017 03:21:01 +0000

President Muhammadu Buhari on Wednesday requested the Senate to urgently consider and approve Federal Government’s 2016-2018 External Borrowing Rolling Plan of 6.93 billion dollars. The rolling plan, according to him, is to enable the government commence the reconstruction and rehabilitation of the North-East, provide for the poor and tackle rail projects across the country. The [...]

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Nigeria Is Borrowing To Fund Infrastructure Projects – Udo Udoma

David Folami — Fri, 09 Dec 2016 00:04:58 +0000

The Minister of Budget and National Planning, Mr Udoma Udo Udoma, says Nigeria’s borrowing solely to fund infrastructure projects, minister’s Media Adviser, Mr James Akpandem , said in a statement in Abuja on Thursday. The minister made the statement when he briefed the Assistant Secretary for Multilateral Affairs of Trade and Policy Department of France, [...]

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Why PMB Is Borrowing Money From China – Lai Mohammed

David Folami — Mon, 11 Apr 2016 16:42:44 +0000

Minister of Information, Lai Mohammed has explained why President Muhammadu Buhari recently embarked on a trip to China to secure a loan facility for Nigeria. Mohammed made the disclosure on Sunday, April 10, 2016, while speaking on Channels TV’s “Sunday Politics”. “There is no way, in the situation we have found ourselves, that we will [...]

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Nigeria To Cut N1.84tn Borrowing From TSA

David Folami — Sun, 14 Feb 2016 16:30:26 +0000

The Federal Government of Nigeria has made known its plans to reduce the amount of borrowing needed to fund the 2016 budget from funds mopped up from government agencies through the implementation of the Treasury Single Account. Currently, the 2016 budget submitted by President Muhammadu Buhari has a deficit of N2.2tn. The deficit is to [...]

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