Nigeria to exceed debt limit in 2023 as FG seeks N11 Billion in new loans
The Nigeria Minister of Finance and National Planning, Zainab Ahmed has said that the federal government will borrow more than N11 trillion and sell domestic assets to finance the budget deficit in 2023. She also said that the government’s budget deficit is expected to exceed N12.42 trillion if it maintains the oil subsidy throughout the 2023 fiscal cycle. Ms. Ahmed revealed this on Monday while appearing before the House Finance Committee to defend the 2023-2025 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). Explaining two budget deficit scenarios to the committee, the minister said the first option involves withholding…
