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Nigeria to borrow N1.5tr to fund 2020 budget

Nigeria plans to borrow N1.549 trillion ($4.3 billion) from domestic and international markets to fund its 2020 budget, the Debt Management Office (DMO) has said.

The Director-General of the DMO Patience Oniha told reporters in Abuja on Friday that N805 billion will be borrowed externally while N744 billion will be sourced from the domestic market

She said N150 billion of the required funds will be sourced through the sale of sukuk bonds.

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