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Reading: Zainab Ahmed: Nigeria is not broke
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Nigeria

Zainab Ahmed: Nigeria is not broke

 According to Nigeria's Minister of Finance, Budget, and National Planning, Zainab Ahmed, the nation is not in financial trouble. She said t...

Chima Joseph Ugo
Chima Joseph Ugo - Editor-in-chief December 01, 2022
Updated December 1, 2022 at 12:55 PM
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Zainab Ahmed: Nigeria is not broke
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Zainab Ahmed: Nigeria is not broke
 According to Nigeria's Minister of Finance, Budget, and National Planning, Zainab Ahmed, the nation is not in financial trouble.

She said that the country's three tiers of government continue to receive funding through the Federation Accounts Allocation Committee (FAAC).

According to Ahmed, the federal government has provided the states N5.04 trillion since 2015.

She addressed at the presentation of President Muhammadu Buhari's administration's scorecard (2015-2023).

According to her, the non-oil sector drives the economy more than the oil sector does as a result of damage to the oil infrastructure.

The minister also said that oil production is going up, pointing out that by October 2022, it had reached 1.4 million barrels per day, which is a huge jump.

She said that as of September 2022, N1.7 trillion had been given to this year’s capital projects.

The minister said that Nigeria has not missed any payments on its domestic or international debt.

She says the country is not choosing to get out of debt.

Tags: Nigeria

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