The Federal Government recorded N11.89 trillion in fresh borrowings in the first nine months of 2025, but spent only N3.10 trillion on capital expenditure.

The Federal Government recorded N11.89 trillion in fresh borrowings in the first nine months of 2025, but spent only N3.10 trillion on capital expenditure.

This was according to figures from the 2025 third-quarter Budget Implementation Report recently released by the Budget Office of the Federation.

The loans comprised N7.08 trillion in domestic borrowing and N4.81 trillion in multilateral and bilateral project-tied loans.

No foreign borrowing was recorded within the period, despite a N1.38 trillion three-quarter budget provision for that item.