The Federal Government has improved its resource allocation strategy to enhance efficiency and sustainability while reducing reliance on high-cost commercial borrowing.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said this on Thursday at the opening of a two-day high-level interactive session in Abuja.
Edun explained that rather than accumulating more debt, the government is prioritising alternative funding sources such as revenue generation, concessional loans, and strategic investments.
He noted that the administration had reached a stage where resource optimisation takes precedence, leading to a shift away from borrowing from commercial markets.
According to him, the move aligns with broader efforts to promote fiscal responsibility and reduce the financial strain caused by expensive loans.
“We want to enhance public transparency, reduce waste, and foster accountability in public financial management while optimising our resources.
“We are at that optimisation stage, where there is less focus on borrowing, particularly from the commercial markets, which is quite high. We are focusing more on optimising assets and attracting private sector investment, whether domestic or foreign.”
