The Federal  Government said, yesterday, it would finance the N1.950 trillion deficits in the 2018 through borrowing from both domestic and international capital markets, informing that the borrowing plan would be forwarded to the National Assembly shortly.

The banking industry is growing and there will be specialization for everyone. Even from the report, the size of growth over the years using any of the metrics recorded double digit growth in the industry overall. But the tier-1 banks are growing faster. What will happen in the industry is that there will be areas of specialization.

PRESIDENT Muhammadu Buhari has written to the Senate, seeking approval for external loan of $5.5 billion to enable the Federal Government finance the 2017 budget.

The Federal Government, yesterday, ruled out the option of obtaining any loan facility from the International Monetary Fund, IMF, stating that the country was not having a balance of payment problem.

There is a limit to which you can grow a business with personal savings; invariably, sustained growth and expansion require additional capital, which may be subscribed or borrowed. It is less risky, for example, to borrow, if loanable funds come with cheaper rates below 5%, especially where gestation is necessarily extended; besides, easier access to cheap funds generally stimulates businesses to create more job opportunities. Furthermore, material inputs, similarly financed with low interest loans, will also reduce production cost, and sustain consumer demand with affordable prices.