The Federal Government of Nigeria Approves New Debt Strategy

File: Kemi Adeosun; Minister of Finance

The Federal Government has resolved to adopt more of externally borrowing strategy to achieve its aim of stimulating the economy and providing the infrastructure that the nation needs.

This was one of the decisions reached at a meeting of the Federal Executive Council held on Wednesday during which a new Debt Management Strategy was approved for the country.

The Minister of Information and Culture, Alhaji Lai Mohammed; Minister of Finance, Kemi Adeosun; and the Minister of State, Budget and National Planning, Zainab Ahmed, briefed State House correspondents at the end of the meeting presided over by Vice-President Yemi Osinbajo.

President Muhammadu Buhari is currently away in London on a 10-day vacation.

Adeosun said the government decided to produce a new debt management strategy for 2016 to 2019 because the previous one had expired in December 2015 and there was a need for a new one.

She said the document was also produced given the current economic challenges and then the economic circus of the government to reflate and diversify the economy.

She explained that the government would be embracing external borrowings because they are more cost effective and they come with more beneficial terms.

She said, “We felt there was a need for a new debt management strategy and the strategy is based on the Medium Term Expenditure Framework as prepared and presented by the Ministry of Budget and National Planning.

“That MTEF assumed that we would reduce our domestic debt from one percent of GDP to 0.7 percent by 2019.

“The reason for this is that the government recognises that for the next three years, to really stimulate this economy and to provide the infrastructure that we need, we would need to be borrowing.

“We need to borrow at the most cost-effective rate and beneficial terms.

“The government recognises that there is a need to stimulate the private sector. For the private sector to really grow. banks must lend to the private sector so we don’t want government borrowing crowding out the private sector.

“Government had taken a strategic decision that, where possible, we would borrow more externally. That is the external debts in dollars or in any other currencies because the interest rates are cheaper, the tenures are longer and there is more room for banks to lend to the private sector especially SMEs. So the strategy was approved by FEC after much debate.”


Author: Success MEDIA Africa

Success MEDIA Africa's Profile. BUSINESS INFORMATION Name: Success MEDIA Africa (a division of KING JOSEPH SUCCESS WORLD...facebook page: @KJSuccessWorld). Founded in 2013 Founder/Chief Publicity Strategist: Mr Adewale Joseph Olabode Udoh (popularly known as king Joseph - the Strategist) Office Address 1: Plot 216/218, A Street, Federal Low Cost Housing Estate, Ikorodu-Lagos, Nigeria. Office Address 2:House No. 232711,Muchinga Road Kaunda Square Stage Two, Lusaka, Zambia. Email: WhatsApp:+2349054593364 Mobile Digits: +2349054832450 / +2349039422809 / +260 97 1035026 GENERAL ACTIVITIES Media Consultancy Publicity/Marketing Strategy Social Media Influencing Music/Product Promotions Online Presence/Communication Analysis Media Management Digital Distribution Management/Promotions Public Relations Education (educating the Young ones and general Staff...) STRATEGY Purpose: To be a leading company in the media/marketing industry by providing enhanced services, relationship, media partnership/supports and solution with profitability. VISION To provide quality services that exceeds the expectations of our esteemed customers/clients. MISSION STATEMENT To build long term relationships with our Customers and Clients and provide exceptional customer services by pursuing business through innovations and advanced technology. CORE VALUES We believe in treating our Clients/Customers with respect and faith. We grow through creativity, invention of new strategies and innovation. We integrate honesty, integrity and business ethics into all aspects of our business functioning. GOALS Global expansion in the field of public relations and media management in general and develp a strong base of key Customers/Clients. Increase the assets and investments of the company to support the developments of services, to as well enhance our chances of giving back to the society in rendering media services to our Clients (especially young Brands...) better...even while charging you for services, we still help in managing your funds for you. NOTE: We do this through our every quarter-of-the-year discounted promotional offers (program) we throw to our Clients/Customers, especially the young Brands, "small Scales" we call them; the program which its hashtag is: #HTYG ( #HelpTheYoungGrow). To build a better reputation in the field of public relations/media and become a key player in the industry. WORKFORCE SMA (Success MEDIA Africa) is still a very young aspiring media firm, with very vast knowledge and professional experience. SMA has about 22+ Staffs and Representatives in these numbers: 13 in Nigeria 3 in Zambia 2 in South Africa and 1 in UAE 1 in Benin Republic 2 in Ghana Other Social Media Platforms: Facebook Page: @SuccessMEDIAAfrica Twitter/ Instagram: @Strategist_KJ, @successmedia_a Google+: Blog: LinkedIn: Facebook ID: Olabode King Joseph Twitter/IG: @kingjoseph_sma

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