October 26, 2016/Reuters

The maximum amount that Nigeria can borrow in 2017 from both local and foreign sources is $22.08 billion without it violating its debt threshold, the Debt Management Office said in a report,

Nigeria had a borrowing space of 5.89 percent of its GDP of $374.95 billion which will take its debt limit to a country-specific threshold of 19.39 percent of its total public debt-to-GDP ratio, it said.

Total public debt-to-GDP ratio for 2016 is projected at 13.5 percent, it said in a debt sustainability report seen by Reuters on Wednesday.

(Reporting by Chijioke Ohuocha; Editing by Angus MacSwan)