The federal government of Nigeria has clarified that the fresh $21.5 billion loans proposed by the government won’t stoke the country’s debt burden as it plans to source them from its development partners.
The ministry of finance through a statement issued on Tuesday by Mohammed Manga, the director, Information and Public Relations, emphasised that the borrowing plan does not equate to actual borrowing for the period.
This is against the backdrop of media reports making rounds that the fresh loans may push the country’s debt to N183 trillion, fanning fears of fiscal sustainability amid rising debt servicing.