Tag: Borrow
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Dwindling allocation: We won’t borrow to bridge funding gap – States
Governments of the 36 states of the federation have ruled out borrowing to bridge their funding gaps. The unanimous decision of the states was communicated on Tuesday through the Adamawa State Commissioner for Finance and the chairman of the Finance Commissioners Forum, Mahmood Yunusa. Yunusa told reporters at the end of the Federation Account Allocation…
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Money, Money, Money, Everywhere But None To Borrow, By Henry Boyo
BY HENRY BOYO It would seem a cynical denial of reality, for anyone, to suggest that, the prevailing, oppressively high cost of borrowing, is caused by an unexpected burden of the presence of too much money. How, one may ask, will the price of any commodity rise when supply of that item is constantly in…
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To borrow or not to borrow? by Henry Boyo
By Henry Boyo The issue of sustainability of Nigeria’s debt and service burden has returned to the forefront of public discuss lately. Instructively, after the controversial, stupendous payment of almost $20bn in 2005-6, to exit an oppressive $30b debt overhang, owed primarily, to a consortium of overseas creditors, Nigeria’s total debt, has climbed rapidly again,…
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‘Nigeria will continue to borrow to finance budget’ – Adeosun
The Minister of Finance, Mrs Kemi Adeosun said the country has no choice but to continue to borrow in other to implement the Federal Government’s Economic Recovery and Growth Plan. Adeosun said this in a statement signed by the Director of Information, Federal Ministry of Finance, Mr Salisu Dambatta on Thursday in Abuja. The minister…