The Federal Government has exceeded its borrowing by N1.15tn for the period between January and August 2022.

A copy of the public presentation of the 2023 proposed budget by the Minister of Finance, Budget and National Planning, Zainab Ahmed, showed that the Federal Government planned to borrow N6.10tn in 2022.

A breakdown shows that the Federal Government planned to get N3.53tn from domestic creditors and N2.57tn from foreign creditors.