{"id":76636,"date":"2021-08-30T15:38:03","date_gmt":"2021-08-30T14:38:03","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=76636"},"modified":"2021-08-30T16:42:45","modified_gmt":"2021-08-30T15:42:45","slug":"zainab-ahmed-fg-borrowing-sensibly-to-fund-infrastructure","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/08\/30\/zainab-ahmed-fg-borrowing-sensibly-to-fund-infrastructure\/","title":{"rendered":"Zainab Ahmed: FG borrowing sensibly to fund infrastructure"},"content":{"rendered":"

Minister of finance, Zainab Ahmed has stated that the federal government is borrowing “sensibly” to cater to the country’s infrastructure needs.<\/p>\n

This was stated by the finance minister while addressing a press conference on the recent report by the National Bureau of Statistics (NBS) on the growth of the economy.<\/p>\n

Ahmed said if Nigeria does not invest in infrastructure, \u201cwe will regret it\u201d.<\/p>\n

As of March 2021, Nigeria\u2019s total public debt had hit N33.1 trillion. Many have expressed concern about the rate at which the government is borrowing to finance infrastructure projects.<\/p>\n

Commenting on the concerns, the minister said the investments<\/a> will be beneficial to the country in the future.<\/p>\n

\u201cWe are borrowing sensibly and we are investing in rail and other infrastructure,\u201d she said on Monday in Abuja.<\/p>\n

\u201cIf we do not do these investments, we will regret. [These] investments will return revenue in the future.\u201d<\/p>\n

Addressing the NBS report, Ahmed explained that the country\u2019s economy would have grown above 5 percent in the second quarter of 2021 but the agriculture sector recorded slower growth, owing to security challenges.<\/p>\n

\u201cThe 2021 second quarter growth reflects better economic performance compared to the same quarter last year. The same quarter last year, we had a negative growth of -6.10 percent. It is also better than the first quarter of 2021,\u201d she said.<\/p>\n

\u201cThe service sector recorded a strong performance, growing by 9.27 percent this reporting quarter, representing the fastest growth in this sector since 2010.<\/p>\n

\u201cThe second quarter growth of 2021 would have been much stronger than the 5.01 percent but for agriculture that recorded a slightly lower growth.<\/p>\n

\u201cA number of bottlenecks within the system including insecurity which has negatively affected the sector negatively. Also, the industrial sector slowed down to -1.3 percent.\u201d<\/p>\n

The minister added that the non-oil sector contributed majorly to the growth witnessed in the second quarter.<\/p>\n

\u201cThe non-oil sector recorded a growth of 7 percent which represents the fastest growth since the third quarter of 2014,\u201d she said.<\/p>\n

Lai Mohammed, minister of information and culture, was also present at the press conference.<\/p>\n","protected":false},"excerpt":{"rendered":"

Minister of finance, Zainab Ahmed has stated that the federal government is borrowing “sensibly” to cater to the country’s infrastructure needs. This was stated by the finance minister while addressing a press conference on the recent report by the National Bureau of Statistics (NBS) on the growth of the economy. Ahmed said if Nigeria does […]<\/p>\n","protected":false},"author":17,"featured_media":76677,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[371,83,12663,16878],"class_list":["post-76636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-fg","tag-insecurity","tag-investments","tag-national-bureau-of-statistics-nbs"],"yoast_head":"\nZainab Ahmed: FG borrowing sensibly to fund infrastructure<\/title>\n<meta name=\"description\" content=\"Minister of finance, Zainab Ahmed has stated that the federal government is borrowing "sensibly" to cater to the country's infrastructure needs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2021\/08\/30\/zainab-ahmed-fg-borrowing-sensibly-to-fund-infrastructure\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zainab Ahmed: FG borrowing sensibly to fund infrastructure\" \/>\n<meta property=\"og:description\" content=\"Minister of finance, Zainab Ahmed has stated that the federal government is borrowing "sensibly" to cater to the country's infrastructure needs. 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