Nigeria borrows N7 trillion to finance 2021 budget – Afrinvest

Nigeria’s financial status deteriorated in 2021 as the nation’s expenditure surpassed revenue resulting in a fiscal deficit of N7.3 trillion instead of N6.44 trillion approved in the 2021 Appropriation Act, a new report by Afrinvest has shown. The extra borrowings came from the domestic creditors, foreign creditors and the Central Bank…