The Minister of Finance, Mrs. Kemi Adeosun, says Nigeria is exploring local and domestic sources to fund the N1.8tn deficit in the 2016 budget currently undergoing approval at the National Assembly.
She, however, maintained that Nigeria had yet to submit any formal application for loans with any of the multilateral institutions.
The minister said the Federal Government was looking at borrowing from multilateral agencies such as the World Bank and African Development Bank and export credit agencies like the China Exim Bank due to their concessionary interest rates.
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