• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Economy Budget

“Nigeria is not broke” – Fashola

Chike Olisah by Chike Olisah
July 25, 2022
in Budget, Politics
Babatunde Fashola
Share on FacebookShare on TwitterShare on Linkedin

Minister of Works and Housing Babatunde Raji Fashola has said that Nigeria is not broke.

He made this comment in reaction to questions on a program on Channels TV where he was asked about the fiscal crisis being faced by Africa’s largest economy.

Nigeria’s Minister for Finance Zainab Ahmed had revealed the country’s debt service had now surpassed revenue generated in the first four months of this year stoking fears among analysts that the country is in a debt crisis.

RelatedStories

FG announces N45,000 monthly stipend for technical college students nationwide 

How to apply for the Federal Ministry of Education’s TVET program with N45,000 monthly stipend 

June 21, 2025
SEC warns Nigerians against unregistered trading platform CMTrading 

SEC warns Nigerians against unregistered trading platform CMTrading 

June 21, 2025

Fashola interjected Seun Okinbaloye, the Channels Anchor when he remarked; “We are in a debt crisis at the moment” immediately telling him

“Seun, I think you need to understand (sic) with the clip that I saw about the Minister of Finance, she didn’t say that we were in a debt crisis. She didn’t say that she was talking about the challenges of financing fuel subsidy, and if it was the same thing that I saw recently, in the public conversation when they were presenting a medium-term expenditure framework or something, the challenges of financing our budget with the maintenance of subsidy. This Nigeria was in a debt crisis, she didn’t say that so don’t import words that I don’t recall hearing.”

Seun pressed on “I ask the question again whether Nigeria is broke” to which Fashola now responded, “I have told you that to the best of my knowledge, Nigeria is not broke being in debt and being able to service your debt in conventional finance is not being broke.”

Watch the video below

To the best of my knowledge Nigeria is not broke. Being indebted and being able to service your debt in conventional finance is not being broke. – Minister of Works and Housing, Babatunde Fashola, SAN.#SundayPolitics pic.twitter.com/SQqdsEi9Um

— Channels Television (@channelstv) July 24, 2022

What the Finance Minister Said

According to the Minister, Dr. Zainab Ahmed, the inability to increase crude oil production, as well as subsidy deductions, posed significant challenges to Nigeria’s revenue generation.

“Crude oil production challenges and PMS subsidy deductions by NNPC constitute significant threat to the achievement of our revenue growth targets, as seen in the 2022 Performance up to April,” she said.

“Revenue generation remains the major fiscal constraint of the Federation. The systemic resource mobilization problem has been compounded by recent economic recessions. Bold, decisive and urgent action is urgently required to address revenue underperformance and expenditure efficiency at national & sub-national levels,”

 

 

Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

Related Posts

FG announces N45,000 monthly stipend for technical college students nationwide 
Education

How to apply for the Federal Ministry of Education’s TVET program with N45,000 monthly stipend 

June 21, 2025
SEC warns Nigerians against unregistered trading platform CMTrading 
Cryptos

SEC warns Nigerians against unregistered trading platform CMTrading 

June 21, 2025
The digital dilemma of Nominal Identity: Why your name alone is not enough
Op-Eds

The digital dilemma of Nominal Identity: Why your name alone is not enough

June 21, 2025
Federal High Court, REA
Legal & Regulations

NIRSAL Contract: Appeal Court upholds N1.5 billion forfeiture against Consultant Ogidan

June 21, 2025
InfraCredit’s guarantee supports affordable housing project with modern shelter’s debt transaction funded by Shelter Afrique Development Bank     
Company Results

InfraCredit reports N1.8 billion profit in the first Q1 2025, down 95% YoY 

June 20, 2025
Sterling Bank concludes core application migration, leads the way for African Banking
Company Results

Sterling reports N18.2 billion profit in Q1 2025 as loan income soars; declares dividend 

June 20, 2025
Next Post
List Crypto assets that investors are making money on right now

Bitcoin, crypto market dips on anticipated interest rate hike

Comments 2

  1. Okafor Charles says:
    July 25, 2022 at 6:53 pm

    Fash is lawyer so we understand where he is coming from deodorizing dog shit

    Reply
  2. Naija Marketplace says:
    July 28, 2022 at 5:59 am

    Nigeria is not broke, but Nigerians are broke because the economy is under the authority of loyalists to political godfathers.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • How to apply for the Federal Ministry of Education’s TVET program with N45,000 monthly stipend 
  • SEC warns Nigerians against unregistered trading platform CMTrading 
  • The digital dilemma of Nominal Identity: Why your name alone is not enough

Follow us on social media:

Recent News

FG announces N45,000 monthly stipend for technical college students nationwide 

How to apply for the Federal Ministry of Education’s TVET program with N45,000 monthly stipend 

June 21, 2025
SEC warns Nigerians against unregistered trading platform CMTrading 

SEC warns Nigerians against unregistered trading platform CMTrading 

June 21, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics