President Bola Tinubu has emphasized the need for more work to be done to improve Nigeria’s GDP growth figures. This statement comes as the Federal Government has been defending its borrowing habits, stating that it only borrows based on approvals from the National Assembly.
The FG’s defence comes after concerns were raised about the country’s increasing debt profile. However, the government has maintained that its borrowing is guided by the approvals of the National Assembly and that it is necessary for the implementation of its development projects.
Meanwhile, President Tinubu’s call for improved GDP growth figures highlights the need for sustained efforts to boost the country’s economy. As the government continues to implement its development plans, it is essential to ensure that these efforts translate into tangible economic growth and improved living standards for Nigerians.
The National Assembly has been engaging with the FG’s revenue-generating agencies to discuss the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). This interactive session aims to ensure that the government’s development plans are aligned with the country’s economic realities.
As the government continues to navigate the complexities of economic development, it is clear that a collaborative effort between the executive and legislative arms of government will be crucial in achieving the desired GDP growth figures.