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Tag: Borrowing

Finance

FG borrowed ₦11.9tn in 31 months, says Oyedele

The Federal Government borrowed N11.9 trillion between June 2023 and December 2025, but says the amount would have been significantly higher without the fiscal space created by its economic reforms. Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this while presenting the government’s reforms scorecard. He said the government’s incremental resources […]

Business featured

Firms expect borrowing costs to ease in coming months — CBN

Firms are expecting borrowing cost for banks’ loans to decline in the next three months despite seeing rates elevated in July. This was contained in the Central Bank of Nigeria’s, latest Business Expectation Survey Report. CBN said: “Respondents expect borrowing rates to remain elevated across the same periods, as indicated by the consistently positive borrowing […]

Finance

FG exceeds 2024 borrowing target by ₦4.79tn over revenue shortfall

The Federal Government exceeded its 2024 borrowing target by N4.79tn after a wider-than-projected budget deficit forced it to raise significantly more financing than originally planned, the Budget Office of the Federation has disclosed. According to the latest Fourth Quarter and Consolidated Budget Implementation Report for 2024, the Federal Government’s new borrowings rose to N12.62tn, exceeding […]

Opinion

Atiku questions Tinubu’s borrowing spree despite ₦7.98trn oil windfall

Former Vice President, Atiku Abubakar, has faulted President Bola Tinubu’s aggressive domestic borrowing, questioning why the administration continued to pile up debts despite an estimated ₦7.98 trillion windfall from high international crude oil prices. He also alleged that the President’s administration had finally arrived at a policy direction he first advocated more than two decades […]

Opinion

Coalition urges FG to borrow for productivity not recurrent consumption

The Economic and Fiscal Justice Coalition has tasked the Federal Government to adopt a “Borrow Better” framework by ensuring it borrows only for productive assets and not for recurrent consumption. Vanguard reported that this was contained in a position paper presented to the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, […]

featured Finance

Why Tinubu continues borrowing — Umahi

The Minister of Works, Engr David Umahi, has said President Bola Tinubu is borrowing to fix Nigeria’s roads because infrastructure is the foundation for security, commerce and economic growth. Umahi spoke in Abuja during a visit by the Inspector General of Police, IGP Olatunji Disu, to the Ministry of Works. “When people say, ‘Why is […]

Finance

FG borrowed ₦2.69tn from bond market in Q1 2026 — DMO

The Federal Government borrowed N2.69tn from the domestic bond market in the first quarter of 2026, as strong investor demand continued to drive subscriptions above offer levels despite tighter allotments, an analysis of Debt Management Office auction results has shown. Data from the DMO for January, February, and March 2026 indicated that the total was […]

featured Finance

FG rules out borrowing from IMF’s $50bn Africa aid

The Federal Government on Thursday declared that it has no plan to approach the International Monetary Fund to borrow from the estimated $50bn, which the IMF had earlier announced on Wednesday that it plans to use to support struggling economies in Africa. The PUNCH reported that the Minister of Finance and Coordinating Minister for the […]

featured Finance

FG raises 2026 borrowing plan to ₦29.20trn

The Federal Government has increased its borrowing plan for 2026 to N29.20tn following an expansion in the proposed budget size, according to official documents obtained by The PUNCH on Sunday. The figure represents an increase of N11.31tn when compared with the earlier N17.89tn borrowing projection contained in the 2026 Abridged Budget Call Circular issued by […]

Finance

States plan N4.3tn borrowing to fund 2026 budgets

Ten Nigerian states are planning to raise about N4.287tn from loans, bonds, grants, capital receipts and public-private partnerships to finance capital projects contained in their 2026 budgets. The states, Lagos, Abia, Ogun, Enugu, Osun, Delta, Sokoto, Edo, Bayelsa and Gombe, collectively presented budgets totalling N14.174tn to their respective Houses of Assembly. An analysis of the […]

featured Finance

States must follow law in borrowing, DMO insists

The Debt Management Office has called on state governments to strictly adhere to the provisions of the Fiscal Responsibility Act and other applicable laws when undertaking borrowing activities. The Director General of the Debt Management Office, Ms Patience Oniha, gave the charge at a workshop on borrowing guidelines organised for officials of state governments in […]

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