President Buhari To Borrow $6.183Billion To Finance 2021 Budget Deficit: With the unimaginable debt burden on the ground and chronic indebtedness Nigeria is entangled with, the Federal Government is borrowing another $6.183billion (N2,343,387,942,848.00) to finance the 2021 budget deficit
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The 2021 budget deficit encompasses items of recurrent expenditures and few capital projects. If this borrowing goes according to plan, Nigeria’s external debt will rise by N33 Trillion- DMO
“President Muhammadu Buhari, on Tuesday, urged the Senate to approve a new external loan of N2, 343,387, 942,848.00, about $6.183billion, for the Federal Government to finance the 2021 budget deficit.
Senate President Ahmad Lawan read Buhari’s letter of request on the floor of the Senate at plenary”