The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the Nigerian government needs more borrowings to fund its budget even though some Ministries, Departments and Agencies have surpassed their revenue target.

Edun said this during an interactive session of the Senate Joint Committees on Finance and National Planning and Economic Affairs on the 2025-2027 Medium-Term Expenditure Framework/Fiscal Strategy Paper.

According to him, the borrowing needs to be done productively and efficiently based on the Senate’s approval for proper funding of the budget.

Giving a similar reason, the Minister of Budget and Economic Planning, Senator Atiku Bagudu reminded us that the borrowing plans contained in the N35.5 trillion 2024 budget, were primarily meant to fund the N9.7 trillion deficit.