Nigeria has added N6 trillion to its public debt and is set to add more.

  • Also, $502.38m was bilateral (AFD) and another $3.26bn bilateral from the Exim Bank of China, JICA, India, and KFW while $11.17bn was commercial which are Eurobonds and Diaspora Bonds.
  • Total external debt grew by $5.04 billion (N3.9 trillion), an 18.72% increase within the period.
  • Total domestic debt on the other hand declined by $5.86 billion. However, it represents an increase in Naira value of N2.09 trillion, largely due to multiple devaluations of the Naira during this period.

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Business Stance

Business Stance

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Business Stance is dedicated to ensuring that every Nigerian comfortably stays one step ahead with an in-depth view of the global financial markets.