Finance Minister: Nigeria cannot afford to borrow money to pay for its budget in 2024

The last thing the government can consider, according to Edun, is accruing more debt.The Coordinating Minister of the Economy and Minister of Finance, Wale Edun, asserts that Nigeria cannot depend on borrowing to finance its budget for 2024.When Edun testified before the joint Senate Committee on the 2024–2026 Fiscal Strategy Paper (FSP) and Medium Term Expenditure Framework (MTEF) in Abuja on Thursday, he made this statement.According to him, increasing infrastructure spending will increase revenue and be the most effective method for Nigeria to finance its budget. It is obvious that given the current circumstances, both domestically and internationally, we cannot afford to depend on borrowing.