Borrowing

Atiku Knocks Tinubu Over 24.7tn Borrowing, Says Government Is Choking Businesses of Credit

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Atiku says government borrowing surged to N24.7tn despite higher oil prices, squeezing private-sector credit and worsening economic hardship. Former Vice President, Atiku Abubakar, on Monday described the federal government’s ‘unprecedented’ appetite for domestic borrowing as evidence of dangerous fiscal indiscipline that is starving Nigerian businesses of credit, killing jobs and worsening the cost-of-living crisis. In … [Read more…]

Senate disapproves FG’s plans to borrow $200m for mosquito nets

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  The Senate Committee on Local and Foreign Loans on Tuesday kicked against the proposal by the Federal Ministry of Health to borrow $200m  under the Malaria Programme to buy mosquito nets in the 2022 budget.   The committee’s condemnation was in response to the Ministry of Health’s submission about its intention to borrow the … [Read more…]

FG hires JP Morgan, others on $6.2bn fresh borrowing

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FG hires JP Morgan, others on $6.2bn fresh borrowing The Federal Government of Nigeria has appointed transaction advisers to facilitate the issuance of Eurobonds in the international capital market. This was contained in a press statement titled ‘Towards financing the 2021 Appropriation Act – FGN appoints transaction advisers for a Eurobond issuance’, which was made … [Read more…]