When I read that the Federal Government is pushing for N17.89tn fresh loans to finance the 2026 budget, I wondered what happened to the loans that were contracted and received for the unimplemented 2025 budget. The loans include the oversubscribed Eurobond loan of November 2025. I have noted long before now that the government creates huge and increasing budget deficits in every annual budget to justify the need for borrowing.
The total…
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