About N300 billion out of the N460 billion the federal government says has been released to finance capital portion of the 2018 budget was borrowed from the Nigerian domestic market, LEADERSHIP can report.
Director-general of the Debt Management Office (DMO), Ms Patience Oniha made the disclosure in an exclusive interview with our reporter. “Maybe almost N300 billion,” the DG said when asked how much of the funds released so far came from borrowing.
The Senate recently approved a request by President Muhammadu Buhari to secure a $2.786 billion foreign loan which is to be sourced from the international capital market as appropriated in the 2018 budget.
The upper chamber also gave its nod to the president’s request to borrow $82.54million to refinance the balance of $500 million matured Eurobond in the international capital market.
Nigeria hopes to borrow a total of N1.643 trillion to fund the deficit in the national budget of N9.12 trillion that was passed by President…
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