The Minister of Finance, Zainab Ahmed, has said that the level of borrowing being made by the Buhari- led administration is not unreasonable and is equally not high.
Speaking at a media briefing at the State House Abuja while reacting to criticism regarding high levels of borrowing by the Buhari-led administration, Ahmed said that Nigeria cannot make progress if it doesn’t borrow to fund the building of its infrastructure.
According to her, “the country will not only regress but be left behind if we fail to improve our business environment.”
“The level of borrowing is not unreasonable and it is not high. If we say we will not borrow it simply means that we won’t be building major infrastructure until our revenue rises enough and we will regress as a country.
“We will be left behind. We wouldn’t be able to improve our business environment and our economy will not grow.
“We just need to make sure that when we borrow, we apply the borrowing to specific major infrastructure that would enhance the business environment in this country,” she said.