The Nigerian Finance Minister, Kemi Adesoun has said that Nigerian will continue to borrow to fund its 2017 budget.
She disclosed this on Thursday after the finance Minister said on Tuesday Africa’s largest economy “cannot borrow anymore”
Kemi’s new position has raised concerns about how Nigeria would fund its budget for the year and about planned foreign loans of $2 billion from lenders e.g World Bank.
Nigeria has been in recession for the first time in 25 years since the current administration came in and had planned to borrow extensively to fund a record budget aimed at helping the country push its way out of the hole.
“We have headroom to borrow and are doing so aggressively in the short to medium term in order to address our infrastructure deficit and to stimulate growth,” Thursday’s statement said.
