FEDERAL GOVERNMENT HAS APPROVED A MEAGER N3.4 BILLION FOR CUSTOMS TO PURCHASE AN AIRPLANE

The federal government has approved N3.4 billion for the purchase of an aircraft by the country's Customs Service.

Clement Agba, Minister of State for Budget and National Planning, revealed this to State House media in Abuja on Wednesday, April 19.

Patience Oniha, Director General of the Debt Management Office, stated on Wednesday that there is no debt due to China, which had risen to N110.31 billion in two years.

She added that Chinese loans to Nigeria stood at $3.59 billion as of 2021, accounting for only 9.4 percent of Nigeria's entire foreign debt stock of $37.9 billion.

Oniha went on to say that they are all low-interest loans, so there is no reason to be concerned.

"The public is assured that Nigeria is fully committed to honouring its debt obligations and has not defaulted on any debt service obligations. The media report should therefore be disregarded," the DMO stated.