• Contact
  • Privacy Policy
Blacksonrise.com
DONATE
  • Home
    • Caribbean
    • African American
    • African
    • Australian
    • Papua New Guinea
  • Ecourses
  • Herbs
  • Consultation
  • Login
    • LogOut
No Result
View All Result
  • Home
    • Caribbean
    • African American
    • African
    • Australian
    • Papua New Guinea
  • Ecourses
  • Herbs
  • Consultation
  • Login
    • LogOut
No Result
View All Result
Blacksonrise.com
No Result
View All Result

Nigerian Government Abandons Plan To Borrow $22.7 Billion

blacksonrise by blacksonrise
March 17, 2020
in Africa Business
0
Nigerian Government Abandons Plan To Borrow $22.7 Billion
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

The Federal Government has aborted its plan to borrow $22.7, the Minister of Finance, Budget and National Planning, Zainab Ahmed, announced on Monday.

She made this known as she spoke at the 2020 International Conference on the Nigerian Commodities Market organized by the Securities and Exchange Commission (SEC) in Abuja.

She said the decision to jettison the plan was taken “due to current realities in the global economic landscape” adding that the government would not even be keen to proceed with the borrowing plan even if the National Assembly gives the approval for it to go ahead.

“The current market indices do not support any external borrowings at the moment, despite that the parliament is still doing its work on the borrowing plan.

“One arm of the parliament has completed their work, and the other arm is still working. So, it is a process controlled entirely by the parliament itself. We are waiting,” she said.

She revealed that the government will defer the plan and watch the market till when the timing is right but would in the interim continue to focus its efforts on its plan to diversify the country’s economy.

The Minister said the government would prioritize its expenditure in favour of major capital expenditures that would have greater impact on job creation, visibility as well as enhance the ease of doing business in the country.

Advertisements

“The expenditures that are not critical must be deferred to a later date when things become more normal.

“Several national plans, programmes and projects have been directed at diversifying the production and revenue structures of the economy,” she said.

Credit: Source link

Previous Post

Will Cannes film festival 2020 get canceled due to coronavirus outbreak?

Next Post

Business brains: Ten global brands you might not know are (partly) Dutch

Next Post
Business brains: Ten global brands you might not know are (partly) Dutch

Business brains: Ten global brands you might not know are (partly) Dutch

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT

HOT Updates

No Content Available

BlackSonRise.com is an online news portal which aims to provide Caribbean News, African News, Business and much more stuff like that. Feel free to get in touch with us!

Follow us on social media:

Recent News

  • Tax experts divided on Mboweni’s expected tax announcements – SABC News
  • LaRose Spotlights African-American Owned Businesses for the Month of February – African American News Today
  • Consultations with First Nations lacking on mines proposed in northwestern Ontario 

Subscribe NOW

Loading
  • Contact
  • Privacy Policy

© 2019 Blacksonrise.com is an online news, e-learning, and business website that caters to the global black community.

No Result
View All Result
  • Home
    • Caribbean
    • African American
    • African
    • Australian
    • Papua New Guinea
  • Ecourses
  • Herbs
  • Consultation
  • Login
    • LogOut

© 2019 Blacksonrise.com is an online news, e-learning, and business website that caters to the global black community.