Nigeria to Borrow $4.3 Billion to Fund 2020 Budget – Bloomberg

Nigeria plans to borrow 1.549 trillion naira ($4.3 billion) from domestic and international markets to fund its 2020 spending plans, according to the country’s Debt Management Office.

A little more than half, 805 billion naira, will be external financing while 744 billion naira will be borrowed from the domestic market, Director-General Patience Oniha told reporters Friday in the capital, Abuja. Some 150 billion naira of the required funds will be sourced through the sale of sukuk bonds, she said.

By Ruth Olurounbi, Bloomberg

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