FG borrows N600bn monthly to survive – Buhari

In Jos, Plateau State, President Muhammadu Buhari disclosed that the Federal Government borrows an average of N600 billion monthly to augment what it gets from the Federation Account to pay salaries of federal workers.

President Buhari stated this at the opening of the Evangelical Church Winning All ( ECWA) 63rd General Church Council (GCC) held at ECWA headquarters in Jos yesterday.

The president, who was represented by the Secretary to the Government of the Federation, David Babachir Lawal reiterated that government borrows about N600 billion monthly to augments its federal allocation which, he said, is between N130 billion and N200 billion to meet its expenditure profile which is roughly between N800 billion and N900 billion.

He said government has no option but to source for fund ‘from everywhere.”

-Sun