President Muhammadu Buhari has said that Nigerians have a right to be concerned about recent borrowings by the Federal Government.
He, however, stated that the debt level of the present administration was within sustainable limits.
The President said this on Thursday while presenting the 2022 Appropriation Bill to a joint session of lawmakers at the National Assembly in Abuja.
“Some have expressed concern over our resort to borrowing to finance our fiscal gaps,” he said in a speech. “They are right to be concerned.
“However, we believe that the debt level of the Federal Government is still within sustainable limits. Borrowings are targeted at specific strategic projects and can be verified publicly.”
President Muhammadu Buhari presents the 2022 Appropriation Bill tagged the Budget of Economic Growth and Sustainability before members of the National Assembly.
President Buhari explained that part of what necessitated the borrowings was the economic recession that hit the country.
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