Abuja - Despite recovering trillions of Naira from political thieves, the Buhari government still wants to borrow from the World Bank but has yet to decide how much it wants.
The Budget Minister, Udoma Udo Udoma, who stated this Wednesday, insisted government must borrow to help pay for record spending of $24 billion, about N10 trillion this year.
Diplomats and officials told reporters last week that Nigeria plans to present the required economic reform proposals to the World Bank this month to borrow at least $1 billion, about N400 billion.
"The figure will depend on the (2017) budget approved by the National Assembly," Udoma Udo Udoma, minister for budget and national planning, told reporters when asked about the application.
"We are waiting for the passage of the budget by the National Assembly so that we will know the budget gap or the actual deficit before we can go to the World Bank for loan."
- News 24