Explained: Buhari’s $6.2bn loan request could raise public debt to N36.4trn

Public debts

Buhari’s $6.2bn loan request could raise public debt to N36.4trn     Despite coming as a key component of the 2021 Appropriation Act, the request of President Muhammadu Buhari seeking Senate’s approval for a $6.2 billion loan is generating concerns as it will further inflate Nigeria’s public debt stock. The President in a letter addressed to the President of Senate, Dr Ahmad Lawan, and read at plenary on Tuesday sought the approval of an external loan of $6.183 billion, to fund the deficit of N5.602 trillion in the 2021 budget.…

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Don’t miss a thing! Here’s President Buhari’s complete 2021 budget presentation speech

Nigeria commences fiscal journey to 2021 as lawmakers get N13.08trn budge draft

2021 Budget Speech: Budget of Economic Recovery and Resilience Delivered By: His Excellency, President Muhammadu Buhari President, Federal Republic Of Nigeria At The Joint Session Of The National Assembly, Abuja Thursday, 8th October 2020. Protocols It is with pleasure that I present the 2021 Federal Budget Proposals to this Joint Session of the National Assembly. Distinguished and Honourable Leaders, and Members of the National Assembly, at this juncture, I wish to commend your tremendous efforts in approving the revision of the 2020 – 2022 Medium-Term Expenditure Framework and Fiscal Strategy…

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