Nigeria’s Budget Deficit Now N4.5trn   The Debt Management Office has put the deficit financing of the revised N10.509trn 2020 budget proposal at N4.563trn. The subsisting 2020 Appropriation Act, passed last December, had a total expenditure of N10.594trn and a deficit of N2.175trn. National Assembly committees begin consideration...

The Director General of the Securities and Exchange Commission, Mounir Gwarzo, has said large budget deficits can affect stock prices and undermine investor confidence. Speaking at the 2017 Budget seminar, organized by the SEC, Gwarzo said the primary concerns for investors, in regard to both...

Nigeria's Senate has approved the government's request to sell a $1 billion Eurobond to help the country finance its budget deficit, senate spokesman said. Nigeria is suffering its first recession in 25 years and needs to find money to make up for shortfall in its...

The Central Bank of Nigeria (CBN) at the weekend, sold about N51 billion ($168 million) worth of treasury bills to mop up liquidity even as the overnight lending rate traded flat around 10 per cent, traders said. The bank sold N25 billion of 174-day open...

The Federal Government recorded a deficit of N890.9bn in its fiscal operations within the first four months of this year, figures obtained from the Federal Ministry of Finance indicated. Financial analysts attributed the development to over-reliance on oil revenue and cautioned the government against borrowing. The...

Nigerian officials are meeting bond investors in London next week, according to a person familiar with the matter, as the government considers tapping international debt markets for the first time in three years to help finance its record budget deficit. Finance Minister Kemi Adeosun will...