in a statement made available to Xinhua in Lagos,
Nigeria’s economic hub on Friday welcomed the advice of
the International Monetary Fund in regards to the
country’s decision to take more foreign loans.
further borrowings from foreign partners would help
mobilize revenue, whilst reducing the nation’s debt burden
by lengthening the maturity profile, she said.
added that foreign borrowings would also increase foreign
exchange reserves, reduce crowding-out of the private
sector and create savings in debt service cost.
Adeosun said a
key element of the government’s economic reform strategy
was the mobilization of revenue to improve the ratio of
debt service to revenue.
her, this was being undertaken through a number of
initiatives including the plugging of leakages and the
deployment of technology in revenue management.
She cited the
example of the Health Pay, a pilot cashless revenue
project in the health sector which had recorded increase
said the ongoing Voluntary Assets and Income Declaration
Scheme (VAIDS) was equally expected to impact positively
on the level of tax collections.