Nigerians have differing opinions on the federal government's frequent borrowing, which has significantly increased the nation's external debt.
The Senate recently approved President Bola Tinubu's external borrowing plan exceeding $21 billion for the 2025–2026 fiscal cycle, facilitating the full implementation of the 2025 Appropriation Act.
The extensive borrowing package consists of $21.19 billion in direct foreign loans, €4 billion, ¥15 billion, a $65 million grant, and domestic borrowing through government bonds, amounting to approximately N757 billion.
Post a Comment