Economics
Nigeria to Tap Range of Financial Instruments in 2025, Finance Minister Says
- Options include international debt markets, concessional funds
- Oil output has rebounded helping boost government revenue
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Nigeria’s Finance Minister Wale Edun said Africa’s largest oil producer will tap a range of instruments to help finance this year’s budget deficit, estimated at about 3.9% of gross domestic product.
The gap has to be covered “not as in the past by printing of money, but going to the financial markets and purchasing on reasonable terms those funds,” Edun said in an interview at the World Economic Forum in Davos, Switzerland Thursday. There are “a whole gamut of financial instruments at our disposal — concessional finance, bilateral and of course, the commercial markets,” he said.