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“Nigeria, Consistent In Loan Repayment”- Finance Minister

“Nigeria, Consistent In Loan Repayment”- Finance Minister

The Minister of Finance, Budget, and National Planning, Zainab Ahmed, has said that Nigeria is consistent in repayment of loans and this has brought about its favourable reception in the bond market.

According to VOICE OF NIGERIA, the minister said this while addressing the press at the Nigeria Economic Summit, in Abuja. Jamb Result

VOICE OF NIGERIA reports that ‘‘We are indeed concerned about paying back loans. If you look at the records, you will find out that Nigeria has been consistent in paying both local and foreign loans and that is why whenever we go to the market, they receive us well because we have been faithful in our repayment.

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‘‘We do not just put numbers and borrow. This is a work that was done to determine what is required in terms of expenditure and what we expect to generate in terms of revenue, and the gap that is not financed by other financing items is debt.

“And then we have a debt management strategy that guides how we borrow. So, borrowing is carefully calibrated to meet the debt service obligations when they fall due. Information Guide Nigeria

Speaking on the impact of the loan to the country Nigeria, the Minister said,

‘‘If you see the kind of infrastructure that is being deployed you will see it physically. When you build a road and the travel time of traveler reduces, that is time saved and money in the pockets of people.

“It is also evident in the quality of roads where you have less accident and those are lives saved. So, there are so many impacts that you cannot count them in terms of monetary terms but in terms of improving quality of peoples’ lives and ease of doing business.

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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