The Minister of Finance, Budget and National Planning, Zainab Ahmed, has revealed that the Federal Government will have to borrow more from domestic and foreign creditors in order to fund the 2020 budget which has been cut by President Muhammadu Buhari.

Ahmed said the 2020 budget has a deficit of N5.3 trillion, and the gap will be filled with foreign and domestic loans. She made this known after the Federal Executive Council (FEC) approved the reduction of the budget expenses from N10.59 trillion to N10.52 trillion. This was done after Ahmed submitted the 2020 Medium Term Expenditure Framework.

FG had also reduced the oil benchmark to $25 from.... https://allnews.ng/news/fg-to-depend-on-domestic-and-foreign-creditors-to-fund-2020-budget-fin-minister