Nigeria’s Non-Oil Revenue Grew Above Target By 15.7% — Minister Of Finance

The Minister of Finance, Budget, and National Planning, Zainab Ahmed, said smuggling is responsible for the rising cost of rice in the country.


The Minister said smuggling is affecting the market and hurting the
citizens.


She also reiterated the Federal Government’s efforts in fighting
smuggling, noting that there is a combined team of the Nigerian
Customs Service (NCS), Police, the Department of Security Services
(DSS) among others to rid the nation of economic saboteurs.

The Minister also reacted to the fresh borrowing request by the Federal
Government which was recently approved by the National Assembly.


According to her, the Federal Government has created a Medium-Term
Debt Management Strategy, noting that the borrowings are not being
done by fiat.

The borrowing that was approved by the lawmakers, the Minister noted,
has been in the National Assembly since early this year.


President Muhammadu Buhari had in May, asked the Senate to approve
the loan request.


The 2018-2020 External Borrowing (Rolling) Plan contained a request
for approval in the sum of $36.8 billion, €910 million, and a grant
component of $10 million