The federal government has expressed its intention to fund the 2019 budget through borrowing.
Zainab Ahmed, Nigeria’s Minister of Finance, disclosed this on Wednesday after the Federal Executive Council (FEC) meeting in Abuja.
According to Ahmed, the funds would be sourced locally and internationally.
“We intend to fund the 2019 budget through borrowing locally and internationally with a spread of 50:50. Our focus is on concessionary long-term loans,” she said.
The Finance Minister said local revenue generation comes with challenges, but noted that there are strategies in place to finance the 2019 budget.