Buhari to ramp up spending and borrowing - Bloomberg

Nigeria's President Muhammadu Buhari plans to "ramp up" spending and borrowing as the government grapples with "reviving an economy that shrank by the most in a quarter century last year due to the coronavirus pandemic".

That's how a leading finance news agency, Bloomberg, has reported about Mr Buhari's budget speech in parliament.

Another agency, Reuters, has described it as "a record" budget of 16.39tn naira ($39.8bn; £29.2bn), with a "projected 25% year-on-year rise in government spending as the economy struggles with the impact of the pandemic".

This article originally appeared in BBC News.

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