Fact Check: Another look on FG’s planned borrowings ahead 2020
Apart from the fact that the 2020 budget is expected to borrow about one third of the total sum to function effectively if all targeted revenues are collected, hereunder are planned facilities to borrow between this month and end of 2020 financial year in Nigeria.
Fresh World Bank loan for power =$3Billion
Gurara Power plant = $1Billion
Mambila Power plant = $5 Billion
FCT/Itakpe/Warri Rail line=$3.9Billion
Brazil Agric Loan =$1.1Billion
Coastal Rail line loan (Lagos-Calabar) =$1.8 Billion
Kano/Ibadan Rail line=$6.Billion!!!
Total: $21.8 Billion
As it stands now, External Debt in Nigeria increased to $27.162.63 USD Billion in the second quarter of 2019 from $25.609.63 USD Billion in the first quarter of 2019. External Debt in Nigeria averaged 9914.18 USD Million from 2008 until 2019, reaching an all time high of $27.162.63 USD Billion in the second quarter of 2019 and a record low of $3.627.50 USD Billion in the first quarter of 2009.
