We borrow to pay salaries, says acting accountant-general

The appearing accountant-general of the federation (AGF) Anamekwe Nwabuoku, says Nigeria is borrowing cash to pay salaries.

Nwabuoku mentioned this on Tuesday, June 14, at a retreat organised by the workplace of the AGF for members of the technical sub-committee on money administration (TSCM) in Abuja.

He defined that there is a rise in authorities expenditure attributable to rising safety challenges and the social wants of the citizenry.

“We’ve got to borrow to enhance fee of salaries and wages. This reveals we’re in very troublesome occasions. Authorities revenue is very challenged.” Nwabuoku mentioned.

“The theme and goal of the retreat couldn’t have been higher captioned, given the fiscal challenges in the intervening time. Data out there point out that attributable to dwindling revenues, the treasury needed to resort to different sources to enhance the fee of federal authorities public servants.

“There is a rise in authorities expenditure attributable to rising safety challenges and social wants of the citizenry.”

Nwabuoku mentioned there must be deliberate efforts to revert the pattern by way of fiscal self-discipline, financial diversification, export sector promotion and plunging income leakages, amongst others, to make sure income influx.

He added: “Now that these challenges stare us within the face, you might be all anticipated at this gathering to return out with concepts that may push us by way of.

“Subsequently, we should all, at this retreat, try in the direction of figuring out the challenges to income era and different technique of enhancing influx into federal authorities money field; guaranteeing the chopping down the price of governance in essentially the most acceptable method and guaranteeing synergy amongst and inside stakeholders within the sub-committee.”