The minister of finance & coordinating minister of the economy, Wale Edun says the federal government has no intention to borrow from any local or foreign organization.
He spoke with state house correspondents at the end of the inaugural Federal Executive Council (FEC) meeting on August 28, 2023, in Abuja.
The minister noted that the benefits of petrol subsidy removal would be ploughed back into various sectors to boost government revenue & improve the business environment.
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“Clearly, the F.G. is not in a position to borrow at this time. Rather, the emphasis has to be on creating a stable, macroeconomic environment. Stable inflation, stable exchange rate, an environment within which people can come and invest and thereby increase production and further grow the economy.
Improve and create jobs and reduce pov£rt¥. So, all reforms at this time aim to focus on what we call equity to focus on investment to attract investment by Nigerians.