Good Morning Nigeria: Greater caution on domestic borrowing
​Greater caution on domestic borrowing
The success of the new administration is to be judged on its fiscal performance since a good result would enable it to make some of the far-reaching changes envisaged. We look therefore at the president’s 2016 budget speech to the National Assembly on 22 December. We like the fact that it is concise and the honest acknowledgement that many people will say “I have heard this beforeâ€. When we compare it with the 2016-18 Medium Term Expenditure Framework, the one substantial change is the composition of the new borrowing of N1.84trn: N984bn domestic and N900bn external vs N1.20trn and N640bn previously.
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