Budget

The Federal government is expected to borrow N4.89 trillion from multilateral institutions such as the African Development Bank Group, the World Bank, the International Fund for Agricultural Development, the Arab Bank for Economic Development in Africa, Eurobond, and the Islamic Development Bank to finance the budget deficit for 2022. This is according to the Debt Management Office’s report on Nigeria’s Debt Management Strategy for 2020-2023. According to the report, the Federal Government planned to borrow money for the 2022 budget from domestic sources, using securities such as Nigerian Treasury Bonds, Saving Bonds, Federal Government Bonds, Infrastructure Bonds, and Treasury Bonds. […]