FG Defends $21.7bn Loan, Says Funds Meant for Productive Ventures
Deji Elumoye and Chuks Okocha in Abuja The federal government yesterday defended its proposed $21.7 billion external borrowing plan, insisting that the funds would finance productive investments in infrastructure and
The Federal Government has defended its proposed $21.7 billion external borrowing plan, emphasizing that the funds are intended for productive investments in infrastructure and other critical sectors to stimulate economic growth and improve living standards. The Minister of Finance, Taiwo Oyedele, clarified that the plan does not mean the government has already borrowed the money or will necessarily draw down the entire amount.
The proposed financing includes $20.52 billion and €1.045 billion for projects and programmes covering transportation, security, healthcare, agriculture, energy, digital infrastructure, education, and social protection.
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