Public Hearing: FG Says $22.7 Loan Request Meant For Infrastructure - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
December 11, 2019
The Federal Government has said that the proposed amount of the 22.7 billion dollars requested by President Muhammadu Buhari in the External Borrowing Plan 2016 to 2018 would be invested in Infrastructure development and not consumption.
The Minister of Worksand Housing, Babatunde Fashola, Minister of Finance, Zaynab Ahmed and Ministerof State, Transport, Gbemisola Saraki made this known during a public hearingbefore the joint House committees.
The House committeesare: Aids, Loans and Debt Management, and Rules and Business.
According to the DebtManagement Office, Nigeria’s Total Public Debt Portfolio as at June 30 stood at83.88 billion dollar 25.7 trillion naira.
The 8 NationalAssembly had received the proposed projects for 2016 to 2018 Medium TermRolling External Borrowing Plan put at 30 billion dollars.
The Minister of Financesaid Nigeria that the country had a revenue generating challenge and stressedthe need to invest in sustainable projects that would generate revenue.