The proposed loan is part of the Accelerated Stabilisation and Advancement Plan (ASAP), which seeks to improve the country’s economic stability and drive growth.
This was revealed during a presentation by the minister of finance and coordinating minister of the economy, Wale Edun, on an ASAP. The plan aims to address critical challenges affecting the reform initiatives and stimulate development in various sectors of the economy.
In the 2024 approved budget, the government’s deficit was N9.18 trillion, to be partially financed by N7.83 trillion in new borrowings.
