FG Puts 2018 Budget Deficit At N2trn, Plans N1.7trn Direct Borrowing

By Nse Anthony-Uko
ABUJA, (Sundiata Post) – The federal government plans to borrow about N1.7 trillion to fund the 2018 Budget deficit which has been put at N2trillion.

Minister of Budget and National Planning Senator Udoma Udo Udoma, who made this known, said the balance of the budget deficit would be funded from proceeds of privatization of oil assets put at N206 billion.

Senator Udoma, who gave a public presentation of the 2018 budget proposals on Tuesday in Abuja, said the government plans to reduce the level of direct borrowing to fund the 2018 Budget dubbed “Budget of Consolidation”

The N2 trillion proposed budget deficit indicates a slight reduction from the N2.3 trillion budget deficit recorded for the 2017 budget.

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