2022 Appropriation: Finance Minister Says Federal Government To Borrow N4.89tn - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (A.M)
August 17, 2021
Minister of Finance, Budget and National Planning Zainab Ahmed made
this known in Abuja at an interactive session organised by the House of
Representatives’ Committee on Finance on the 2022-2024 Medium Term
Expenditure Framework and Fiscal Strategy Paper.
Zainab also noted that awareness of the naira as being over valued over
despite recent the adjustment by the Central Bank of Nigeria, CBN has
compounded Nigeria’s risk aversion in the global capital market, which
she said would further put pressure on the foreign exchange market,
stressing that foreign portfolio investors have yet to return to the
country’s market.
The Minister explained that while the government plans to borrow to
fund the 5.62 trillion naira shortfalls in 2022, it will reduce capital
expenditure by 259.315 trillion naira, as the reduction would become
compulsory over economic volatility occasioned by unstable global oil
market as well as the effects of the COVID-19 pandemic.