FG Must Borrow to Pay Contractors, No options left: Finance Minister


The Finance Minister,  Mrs Kemi Adeosun  has revealed that the FG will need to collect loans not only for payment of salaries but also for contractors to start work.

According to news report, Mrs Kemi spoke at a town hall meeting In Abuja that Buhari  government  will start borrowing for the payment of contractors, so they can work on projects. after months of borrowing to pay monthly salaries.

Adeosun said, There is no quick solution to the present challenge. There is a fundamental problem, but if we can be patient, we shall get there. Lamenting on how government spends on ghost workers, continuous borrowing and why so much was being spent on one per cent of the population that form the government.

At this point, We have a conservative borrowing programme; and we must borrow to do rail and other projects — the rail that we have now was done in the colonial era to enable agriculture and solid minerals to be competitive.

“We will borrow sustainably; we will borrow to make sure that we don’t burden future generations. We have been borrowing in the past to pay salaries; now we borrow to invest.

“I don’t see any other option than to borrow”.

About The Author

Bariduanen Lemon is a Writer and Editor who intends to keep you informed and glued to events and activities around you .Follow me on Twitter@LemonBarry and Facebook on Barry Lemon.

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