About a third of Nigeria’s 2017 budget will be funded by borrowing from internal and external sources, an official has said.
The Minister of Budget and National Planning, Udoma Udoma, said the government seeks to borrow about N2.32 trillion to finance the N7.29 trillion budget.
“Of this amount, N1.067 trillion (46 per cent of this borrowing) is intended to be sourced externally, while N1.25 trillion will be sourced domestically,” he said.
About 67 per cent of the 2017 budget, will however be funded from government revenue, majorly from oil and non-oil sources.
Mr. Udoma said at the public presentation.....