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Federal Government Defends Application for Fresh Loans Despite Revenue Surplus

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has stated that the Nigerian government must continue borrowing to fund its budget, despite some Ministries, Departments, and Agencies (MDAs) surpassing their revenue targets. Edun made this assertion during an interactive session with the Senate Joint Committees on Finance, National Planning, and Economic […]

Senate Okays Tinubu’s Request for ₦1.77 Trillion Loan Amid Rising Debt Costs

Nigeria’s Senate has approved President Bola Tinubu’s request for a ₦1.77 trillion ($2.2 billion) loan to help bridge the 2024 budget deficit of ₦9.7 trillion. Deputy Senate President Barau Jibrin presided over the session on Thursday, during which the Senate approved the report submitted by the Senate Committee on Local and Foreign Debts, chaired by […]