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
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”