Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said the Federal Government is committed to reducing its reliance on borrowing while intensifying efforts to attract investment into the Nigerian economy.
Edun spoke in an interview with Bloomberg TV on the sidelines of the World Economic Forum in Davos, Switzerland, on Tuesday.
He explained that although Nigeria’s budget deficit appears wider on paper following approval by the National Assembly, the administration of President Bola Ahmed Tinubu is focused on fiscal consolidation after implementing key economic reforms.
According to the minister, Nigeria’s participation at the Davos forum is aimed at showcasing the country’s improved macroeconomic stability and renewed attractiveness to investors.
Edun noted that while Nigeria still has room to issue another Eurobond, any decision to return to the international debt market would depend on market conditions and strict adherence to borrowing guidelines.
