Nigeria to Borrow $4.3 Billion to Fund 2020 Spending Plans

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.