Minister of finance, budget and national planning Zainab Ahmed has said that Nigeria is not broke but in good economic standing.
Ahmed said at the sixth edition of the presentation of President Muhammadu Buhari’s scorecard organised by the Federal Ministry of Information on Thursday in Abuja that Nigeria generates revenue on a regular basis which is distributed to all the tiers of government.
She added that the country had recorded significant growth in non-oil revenue while improving oil revenue that had dwindled in the last few years.
“We continue to generate revenue on a monthly basis and these revenues are distributed at the Federation Account Allocation Committee (FAAC). Again, to continue with the tradition of transparency, we actually disclose how much is distributed on a monthly basis to the various tiers of government.
“We have witnessed a significant increase in non-oil revenue. While oil revenue is underperforming because of criminality, recently NNPC has reported that this has been curtailed and we are already beginning to see the pickup in the production volumes which are that more revenues have started to come to the federation,” Ahmed said.
She said in spite of those remarkable improvements, revenue is still not enough to meet the government’s expenditure, thus necessitating the resort to borrowings.
