The Nigerian Senate on 07 July 2021, approved the Federal Government’s request to borrow ca $6.1 billion (₦2.343 trillion) from Multilateral and Bilateral tenders as well as the international Capital Market. This borrowing, which was already approved in the Appropriation Act 2021 as part of the 2021 budget is expected to part-finance the 2021 budget deficit of ₦5.6 trillion.

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