My Job Is To Spend The Money, Not Earn It – Babatunde Fashola Speaks On Nigeria Being Broke

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The Minister of Works and Housing, Babatunde Fashola, has stated that Nigeria just isn’t broke.

Talking throughout an interview on Channels Tv, the previous governor of Lagos state insisted that being indebted and with the ability to service your debt in typical finance just isn’t being broke.

Recall that the Minister of Finance, Finances and Nationwide Planning, Zainab Ahmed, had final week introduced that pressing consideration was wanted in respect to the nation’s income problem and expenditure effectivity.

Reacting to the state of the nation’s funds whereas fielding questions throughout an interview on Channels TV, the minister stated that the enterprise of lending cash is definitely a worthwhile one and the nation was serving to out banks and different monetary establishments who had workers on their payroll.

He, nevertheless, acknowledged that he’s not the minister of Finance and his job is to spend the cash earned.

His phrases: “To one of the best of my information, Nigeria just isn’t broke. Being indebted and with the ability to service your debt in typical finance just isn’t being broke.

“In any occasion it’s a must to perceive that the enterprise of lending itself is a worthwhile enterprise. So if no one contracted money owed the place will all of the banks and different monetary establishments be? The place will they throw all of the individuals they make use of?

“So this can be a matter of credit standing and credit score fame. It’s this dwelling economics mentality that I can’t take money owed that led us to take 12billion {dollars} money to go and payoff a debt we may have rescheduled, renegotiated when our infrastructure was dying. That mentality should depart our desk.

“All the large nations we wish to compete with are contracting money owed to construct their infrastructure and stand in competitors. So long as you possibly can service your money owed, you might be good.

“I can conveniently inform you that I’m not Nigeria’s minister of Finance; my job is to spend the cash to not earn it.

“I’m involved and each accountable Nigerian ought to have his eyes on the money owed and must be involved.”

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