MTEF-FSP: We can’t continue borrowing to fund budget – Edun

The Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun, has said Nigeria was not in a good position to continue its reliance on borrowings to fund the 2024 budget.

He pointed out that what was required at this time was for the nation to make necessary sacrifices, improve its revenue generation and drastically reduce its current unsustainable deficit financing.

Edun said this in his opening remarks when he appeared before the Senator Sani Musa-led Joint Senate Committee considering projections contained in the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper, in Abuja yesterday.

The minister appeared before the Senate panel in the company of the Executive Chairman, of the Federal Inland Revenue Service, FIRS, Mr Zacch Adedeji and the Director General of the Debt Management Office, Ms. Patience Oniha.