Debt Management: Our Borrowings Have Been Practical — Finance Minister

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has stated that the borrowings embarked upon by the present administration have been practical, sustainable, and guarded by debt management strategies.

Ahmed made the remark on Thursday at the sixth edition of President Muhammadu Buhari’s scorecard, tagged 'PMB Scorecard 2015-2023', organised by the Ministry of Information in Abuja.

According to her, Nigeria has continued to generate revenue on a regular basis, which is distributed to all the tiers of government.

The minister said the nation has recorded significant growth in non-oil revenue while improving oil revenue that had dwindled in the last few years.

“We continue to generate revenue on a monthly basis and these revenues are distributed at the Federation Account Allocation Committee (FAAC).

“Again, to continue with the tradition of transparency, we actually disclose how much is distributed on a monthly basis to the various tiers of government.

“We have witnessed a significant increase in non-oil revenue.

“While oil revenue is underperforming because of criminality, recently NNPC has reported that this has been curtailed and we are already beginning to see the pick up in the production volumes which are that more revenues have started to come to the Federation.

“Our borrowings have been practical. They are sustainable, they are guarded by debt management strategies.

“There is a debt management board that is chaired by the Vice President, the ministers of Justice, Finance and other ministers as well as the Debt Management Office (DMO).

“The debt management is being followed religiously and our debt is sustainable", she stated.