The Federal Government’s new borrowing allocations rose by 278.03 per cent or N4.03tn between 2015 and 2021.
This was disclosed in the presentation of the public debt data as of December 31, 2021, by the Director-General of the Debt Management Office (DMO), Patience Oniha.
According to the document, the new borrowing allocation for 2015 was N1.46tn, which was 90.17 per cent of the N1.62tn budget deficit.
For 2021, the allocation for new borrowing was N5.49tn, which was 85.11 per cent of the N6.45tn budget deficit.- The Citizens