Infrastructure: Minister Refutes Plan To Borrow N2trn Pension Fund By FG - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (J.T)
February 1, 2020
TheMinister of Finance, Budget and National Planning Zainab Ahmed dismissed thereport that the Federal Government is planning to borrow two trillion naira pensionfunds for infrastructure development.
Shestated this in Lagos at Udo Udoma & Belo-Osagie second private equitysummit with the theme: ‘Drivers, Disruptors and Unlocking Value.
TheMinister said government was not borrowing the fund for infrastructuredevelopment. According to her, the National Economic Council set up a committeeof itself to explore the possibility of being able to encourage the pensionfund managers to invest in infrastructure development.
Zianabadded that the investment in infrastructure was not moving because it waseasier for them to invest in Teasury Bills and Federal Government bonds. Shesaid that with returns on TBs not good, they were looking for long-terminstrument they could invest in.
TheMinster while, speaking on Value Added Tax, VAT  increment, admitted that it would contributeto inflation rise, said that it would moderate over time.