FG to Spend N1.2tn on Servicing Loans From CBN

The Federal Government has announced plans to spend N1.2tn on servicing the loans it got from the Central Bank of Nigeria through the Ways and Means Advances.

According to the 2023 fiscal framework, the Federal Government allocated N6.31tn to service its total debts.

A breakdown showed that the Federal Government allocated approximately N3.3tn to service domestic debts, N1.81tn for foreign debts and N1.2tn for ways and means.