The Federal Executive Council (FEC) has resolved to adopt more of externally borrowing strategy to achieve its aim of stimulating Nigeria’s economy and providing the infrastructure that the nation needs.
This was one of the decisions reached at the council meeting on Wednesday in Abuja, during which a new Debt Management Strategy was approved for the country.
The Minister of Finance, Mrs Kemi Adeosun, briefed State House correspondents at the end of the meeting, presided over by Nigeria’s Vice President, Professor Yemi Osinbajo.
Mrs Adeosun explained that the government decided to produce a new debt management strategy for 2016 to 2019.
This was because the previous one had expired in December 2015, stressing the need for a new one.