Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,205,873 members, 7,994,017 topics. Date: Tuesday, 05 November 2024 at 03:27 AM

“Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt (15064 Views)

Fayemi Visits Alaafin Lamidi Adeyemi After ‘Warning’ Letter / Kemi Adeosun Resigns Over NYSC Certificate Scandal - Daily Trust / NNPC Says Days Of Fuel Scarcity Are Over (2) (3) (4)

(1) (2) (3) (4) (Reply) (Go Down)

“Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by Ehiscotch(m): 5:50pm On Jul 13, 2017
Two days after the finance minister, Kemi Adeosun, said the federal government must move away from debt in funding future budgets, she clarified her statement saying Nigeria has no choice but to continue to borrow in other to implement the Federal Government’s Economic Recovery and Growth Plan, ERGP.

Speaking at the quarterly presidential business forum in Abuja, Mrs. Adeosun said Nigeria needs to generate more money to fund its budget.
“We need to mobilise additional revenue to fund our budget,” she said.

“We have got to get our budget bigger and to do that we cannot borrow anymore. We simply have to generate more revenue, we have to plug the leakages, we have to improve tax collection so that we can manage our borrowing.”

However, in a statement signed by the Director of Information, Federal Ministry of Finance, Salisu Dambatta, on Thursday, Mrs. Adeosun said Nigeria will continue to borrow to fund its budget.

“Nigeria will continue to borrow. Nothing has changed,” her spokesperson quoted her as saying.
“The Economic Recovery and Growth Plan provides for an increase in spending over a three-year period, which is reflected in the 2017 budget.

“In 2017, the government is committed to spending N7.44 trillion, with a projected fiscal deficit of N2.356 trillion, which will be funded by a combination of domestic and international borrowing.

“Nigeria’s debt to GDP ratio is low when compared to our contemporaries in Africa, and across most of the developed world.

“We have headroom to borrow and are doing so aggressively in the short to medium term in order to address our infrastructure deficit and to stimulate growth,” she said.

Mrs. Adeosun said that in addition to borrowing, the government was working towards having a diversified revenue base to ensure that the country do not continue to overly rely on debt to fund the budget.

“To build a sustainable economy we must replace the debt that we are incurring in the short to medium term, with strong revenue sources.

“That is why the Ministry of Finance is focused on expanding our tax base, which we are doing with a range of initiatives which include the Voluntary Asset and Income Declaration Scheme (VAIDS).

“Also, the recruitment of Community Tax Liaison Officers (CTLOS) is to improve tax compliance in the long-term, and we are heavily focused on making government spending more productive and efficient.

“Nigeria cannot rely on debt indefinitely. We must be focused on a future where we can earn enough internal revenue to spend on the projects that will grow our economy,” she said.

Mrs. Adeosun said that for now however, increased spending, funded by debt, would act as a stimulus for growth.
(NAN)

http://www.premiumtimesng.com/news/headlines/236810-nigeria-will-continue-borrow-adeosun-says-two-days-warning-debt.html

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by three: 5:53pm On Jul 13, 2017
After this tenure those who are found to have sabotaged Nigeria through inept policies that further impoverish the weak and poor while continually enriching the highly placed and well connected should be made to face the FULL WRATH of the Law.

This is ADMINISTRATIVE MALFEASANCE!

57 Likes 4 Shares

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by Nobody: 5:53pm On Jul 13, 2017
It shall be well.

1 Like

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by Ehiscotch(m): 5:57pm On Jul 13, 2017
three:
After this tenure those who are found to have sabotaged Nigeria through inept policies that further impoverish the weak and poor while continually enriching the highly placed and well connected should be made to face the FULL WRATH of the Law.

This is ADMINISTRATIVE MALFEASANCE!
After this tenure?

4 Likes

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by three: 5:58pm On Jul 13, 2017
Ehiscotch:

After this tenure?

Could this be done during this tenure?

14 Likes 1 Share

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by Ehiscotch(m): 6:01pm On Jul 13, 2017
three:


Could this be done during this tenure?
What policies are you talking about?
No one is punished for formulating poor policies: they are only chastised.

4 Likes

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by ALCOHOLKILLS(m): 6:04pm On Jul 13, 2017
who takes that olodo kemi serious Afonja dirty girl undecided

90 Likes 6 Shares

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by three: 6:07pm On Jul 13, 2017
Ehiscotch:

What policies is he talking about?
No one is punished for formulating poor policies: they are only chastised.

Do you know what malfeasance is?

2 Likes 1 Share

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by Ehiscotch(m): 6:09pm On Jul 13, 2017
three:

Do you know what malfeasance is?
malfeasance /malˈfiːz(ə)ns/ noun wrongdoing, especially (US) by a public official.

8 Likes

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by Paperwhite(m): 6:12pm On Jul 13, 2017
Never hold unto any word,statement or pronuncement made by anything APC.Of course no iota of truth in them.Party of liars.

42 Likes 1 Share

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by BlowBack: 6:13pm On Jul 13, 2017
We just heard recently from this vapid empty head confusionist stating that Nigeria can not afford to borrow anymore
www.nairaland.com/attachments/5644890_img20170713135917_jpeg0dd5f2b4232350cc41f9ac897492f177
But recall just last year this olodo was at forefront shouting why we must borrow $30bn

www.nairaland.com/attachments/5644889_img201707131359301_jpeg67c7d4f0860847def41ae4ddf30cd331

Now she is at it again shouting we must borrow!

How does this woman's brain operate that she can't even remember what she said just 2 days back?


The incoming administration of Bukola Saraki must make this woman remit all allowances and salaries she got as serving minister and from there deport her back to her council flat in london

84 Likes 3 Shares

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by dingbang(m): 6:16pm On Jul 13, 2017
Confused woman

12 Likes

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by BlowBack: 6:17pm On Jul 13, 2017
dingbang:
Confused woman

This woman nah real olodo

34 Likes 1 Share

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by Ehiscotch(m): 6:22pm On Jul 13, 2017
Many of you have poor comprehensive skills. We have to borrow but we should not be borrowing. Reading the headlines alone can be very misleading.

4 Likes

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by Ehiscotch(m): 6:23pm On Jul 13, 2017
BlowBack:
We just heard recently from this vapid empty head confusionist stating that Nigeria can not afford to borrow anymore
www.nairaland.com/attachments/5644890_img20170713135917_jpeg0dd5f2b4232350cc41f9ac897492f177
But recall just last year this olodo was at forefront shouting why we must borrow $30bn

www.nairaland.com/attachments/5644889_img201707131359301_jpeg67c7d4f0860847def41ae4ddf30cd331

Now she is at it again shouting we must borrow!

How does this woman's brain operate that she can't even remember what she said just 2 days back?


The incoming administration of Bukola Saraki must make this woman remit all allowances and salaries she got as serving minister and from there deport her back to her council flat in london
Try to read and desist from posting nonsense.

5 Likes

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by BlowBack: 6:25pm On Jul 13, 2017
Ehiscotch:
Try to read and desist from posting nonsense.

Sharap!

Tell that cun.t to get her sh1t together

46 Likes 3 Shares

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by Ehiscotch(m): 6:29pm On Jul 13, 2017
BlowBack:


Sharap!

Tell that cun.t to get her sh1t together
Borrowing to fund infrastructural projects is a welcome idea. She is only saying we should not be over dependent on borrowing and we should boost our revenue generation in order to service debts and fund other developmental projects.

3 Likes

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by itchie: 6:32pm On Jul 13, 2017
It's either the woman is confused or the cabal change am for am after she said we can't borrow again

29 Likes

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by itchie: 6:33pm On Jul 13, 2017
Ehiscotch:

Borrowing to fund infrastructural projects is a welcome idea. She is only saying we should not be over dependent on borrowing and we should boost our revenue generation in order to service debts and fund other developmental projects.

Stop defending incompetence

56 Likes 3 Shares

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by Ehiscotch(m): 6:40pm On Jul 13, 2017
itchie:


Stop defending incompetence

“We need to increase our budget size, but we can’t
depend on borrowing anymore, so we have to
improve revenues and block leakages,” Mrs
Adeosun said at the business forum.
This was what she said. We cannot forever rely on borrowing to fund our budget. She is putting in place policies that would boost our revenue thereby reducing our borrowing.
Always take out time to read articles not just their headlines.

1 Like

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by egopersonified(f): 6:59pm On Jul 13, 2017
Is pause not better than rewind? How many years would it take us to get back to 2015, talk more of moving beyond the state of the economy as at 2015. Hope this recession would not lead to depression. This is stretching the coping capacity of the people too far. Imagine selling your wife and child for 270k, by 2019, won't people start eating their children?

I refuse to give up, recession is a word.

12 Likes

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by Nbote(m): 7:30pm On Jul 13, 2017
Ehiscotch:
Many of you have poor comprehensive skills.
We have to borrow but we should not be borrowing.
Reading the headlines alone can be very misleading.

U dat have top notch comprehension skills, U shld know her presentation of d issue is absolutely ridiculous and contradictory. Her latest comment is supposed to b issued together with d first to give its complete meaning. She is terrible at speech giving

33 Likes

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by BlowBack: 7:34pm On Jul 13, 2017
Ehiscotch:

Borrowing to fund infrastructural projects is a welcome idea. She is only saying we should not be over dependent on borrowing and we should boost our revenue generation in order to service debts and fund other developmental projects.

Am I the one borrowing?

Was she not the same idiot that was pursuing Buhari to borrow?

Even as commissioner of finance, ogun state all she knew how to do was help her sugar daddy bf borrow from banks

Kemi is clueless

37 Likes 2 Shares

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by Ehiscotch(m): 7:38pm On Jul 13, 2017
BlowBack:


Am I the one borrowing?

Was she not the same idiot that was pursuing Buhari to borrow?

Even as commissioner of finance, ogun state all she knew how to do was help her sugar daddy bf borrow from banks

Kemi is clueless
Ngozi that said Nigeria needs to borrow to pay salaries deserves a medal in cluelessness.
But Ogun state has a better IGR than the SE.
Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by KINGOFTHEEAST: 7:39pm On Jul 13, 2017
BlowBack:
We just heard recently from this vapid empty head confusionist stating that Nigeria can not afford to borrow anymore
www.nairaland.com/attachments/5644890_img20170713135917_jpeg0dd5f2b4232350cc41f9ac897492f177
But recall just last year this olodo was at forefront shouting why we must borrow $30bn

www.nairaland.com/attachments/5644889_img201707131359301_jpeg67c7d4f0860847def41ae4ddf30cd331

Now she is at it again shouting we must borrow!

How does this woman's brain operate that she can't even remember what she said just 2 days back?


The incoming administration of Bukola Saraki must make this woman remit all allowances and salaries she got as serving minister and from there deport her back to her council flat in london
lawd I can't take this you are wicked I have seen someone nwamaikpe is better than BTW deport back to council flat in london

9 Likes

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by Ehiscotch(m): 7:39pm On Jul 13, 2017
Nbote:


U dat have top notch comprehension skills, U shld know her presentation of d issue is absolutely ridiculous and contradictory. Her latest comment is supposed to b issued together with d first to give its complete meaning. She is terrible at speech giving
The media twisted the story which made her reply & it came out contradictory. Read both articles O say again.
Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by Annie939(f): 7:40pm On Jul 13, 2017
confused government

16 Likes

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by BlowBack: 7:41pm On Jul 13, 2017
Ehiscotch:

Ngozi that said Nigeria needs to borrow to pay salaries deserves a medal in cluelessness.
But Ogun state has a better IGR than the SE.

Shatap!

Ngozi said that with the backdrop of the increasing fuel subsidy due to high crude prices which said is making the fg to run a deficit and had to borrow to augment the huge wage bill.

She said this as a warning to why fuel subsidy must be discarded.

But you Afonjas gree?

37 Likes 1 Share

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by Ehiscotch(m): 7:44pm On Jul 13, 2017
BlowBack:


Shatap!

Ngozi said that with the backdrop of the increasing fuel subsidy due to high crude prices which said is making the fg to run a deficit and had to borrow to augment the huge wage bill.

She said this as a warning to why fuel subsidy must be discarded.

But you Afonjas gree?
Then Kemi is saying that Nigerians should not rely on borrowing to fund budgets but instead increase its revenue generation and cut deficit.
Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by Ehiscotch(m): 7:45pm On Jul 13, 2017
BlowBack:


Shatap!

Ngozi said that with the backdrop of the increasing fuel subsidy due to high crude prices which said is making the fg to run a deficit and had to borrow to augment the huge wage bill.

She said this as a warning to why fuel subsidy must be discarded.

But you Afonjas gree?
Don't get me wrong. I am not Yoruba.
Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by BlowBack: 7:46pm On Jul 13, 2017
Ehiscotch:
Then Kemi is saying that Nigerians should not rely on borrowing to fund budgets but instead increase its revenue generation and cut deficit.

Wasn't it this same clownish woman that said we must borrow without presenting any borrowing and repayment framework to the Senate?

Abegi leave matter for matthias

This woman obviously doesn't know what she is doing

19 Likes

Re: “Nigeria Will Continue To Borrow,” Adeosun Says, Days After Warning Against Debt by BlowBack: 7:46pm On Jul 13, 2017
Ehiscotch:

Don't get me wrong. I am not Yoruba.

Zombie?

16 Likes

(1) (2) (3) (4) (Reply)

Mu’azu Meets Osinbajo, Keeps Mum / Onnoghen: Atiku Thanks US, UK, EU, Says Not Fighting for Embattled CJN / Some Kidnapping Cases Are False, Osinbajo Tells Nigerians In US

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 40
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.