Agence Ecofin TikTok Agence Ecofin Youtube Agence WhatsApp

Public Management

Nigeria to finance 2018 budget with a $4.5bn loan  

Friday, 22 June 2018 13:52

(Ecofin Agency) - Nigeria plans to borrow $4.4 billion to finance its 2018 budget, the minister of budget and planning Udo Udoma (photo) said today June 22.

According to information relayed by Leadership, the money will help fill deficit generated by higher forecast spending (+22% compared to 2017). In this regard, $2.2 billion will be collected from domestic market while the remaining $2.3 billion from foreign sources.

Schemes aimed at diversifying income sources to reinvigorate a struggling oil-dependent economy have been planned. Key projects target infrastructure mainly railways construction which captured over $451.3 million.

Let’s recall that Nigeria’s growth is expected to pick up to 2.1% this year, according to IMF.

Moutiou Adjibi Nourou

Additional Info

  • communiques: Non
  • couleur: N/A
 
Finance


 
Mining


 
Telecom


ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

AGENCE ECOFIN
Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

EDITORIAL TEAM
redaction@agenceecofin.com

ADVERTISING SALES
Benjamin FLAUX
bf@agenceecofin.com
Tél: +41 22 301 96 11
Mob: +41 78 699 13 72

 

Please publish modules in offcanvas position.