While speaking with Bolaji Ogundele of the Nations Newspaper during the KPMG/Arise TV Budget Day event, the Hon Minister of Budget and Economic Planning, Sen. Atiku Abubakar Bagudu disclosed that borrowing of funds will be done within the confines of the law.
He expressed optimism that the decreased quantum of N9.1 trillion as against the N14 trillion of last year which produced a 6.11%GDP will go a long way to fund the deficit.
He recalled how Governors have re-energised the National Economic Council Committee on Crude Oil Theft and Prevention so as to take responsibility; saying this will help with revenue projections, budget efficiency and discipline.
He reiterated President Tinubu’s strides upon assumption of office utilizing N500 billion of the N819 billion supplementary budget for provision of palliatives like the CNG buses, MSMEs, Nano credit, agricultural intervention etc. a hallmark of successful financial management.
Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu has assured investors that the foreign exchange market would stabilize further under the current administration.He revealed that H.E President Bola Ahmed Tinubu has signed two Executive Orders and the ongoing exchange reforms of the President and the Central Bank of Nigeria will improve exchange rate.He stressed the need to raise oil output as according to him, boosting oil production will encourage investors which can further strengthen the exchange rate
