Government Considers Fresh N7.24 Trillion Borrowing

Federal government may be seeking to borrow a fresh 7.24 Trillion Naira in 2024.
This was revealed during a presentation by the minister of finance and coordinating minister of the economy, Wale Edun, the plan aims to address critical challenges affecting the reform initiatives and stimulate development in various sectors of the economy.
The proposed loan is part of the Accelerated Stabilisation and Advancement Plan (ASAP), which seeks to improve the country’s economic stability and drive growth.
Recall that, in the 2024 approved budget, the government’s deficit was 9.18 Trillion Naira to be partially financed by 7.83 Trillion Naira in new borrowings.