According to Abubakar Atiku Bagudu, Minister of Budget and Economic Planning, the Federal Government has not surpassed the Central Bank of Nigeria’s (CBN) five percent borrowing cap.
He pointed out that Nigerians are already reaping the benefits of significant reforms that the administration of President Bola Tinubu has so far put into place.
This was said by Bagudu during the 2025 KPMG/Arise News Budget Program. He went on to say that lowering food inflation and foreign exchange market stability are proof that Nigeria is benefiting from the changes.
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By promising that the government would not go over its permitted borrowing limits, especially when it came to domestic sources, the minister allayed worries over the nation’s mounting debt load.
Bagudu further assured that the federal government would adopt innovative financing methods, including local bonds and external borrowing, to meet its fiscal needs.
Bagudu also stressed that asset sales, a policy favoured by the government, would only be carried out when market conditions are optimal to maximise value.
Specifically, he said the government had been able to address the issues around insecurity which had prevented farmers from accessing their farms. As a result, he said there’s currently a boost in food production which had reduced food inflation.
He also pointed to the relative stability in the country’s Foreign Exchange market and and the deceleration in headline inflation as evidence that Tinubu’s policies were working.
