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Nigeria, Others Deepen Strategies to Tackle Rising Debt Burden

Nigeria, Others Deepen Strategies to Tackle Rising Debt Burden

Africa’s mounting debt crisis is becoming an obstacle to economic growth and prosperity. During the recent launch of the Debt Management Forum for Africa in Nigeria, African leaders discussed strategies to tackle the continent’s growing debt distress, which is exacerbated by a global financing system that often ignores Africa’s unique challenges. The rising debt burden … Read more

Debt Servicing Consumes N8.94 Trillion in 9 Months as Nigeria’s Deficit Widens

Debt Servicing Consumes N8.94 Trillion in 9 Months as Nigeria’s Deficit Widens

The Nigerian government has spent an alarming N8.94 trillion on debt servicing in the first nine months of 2024, accounting for 47% of total expenditure during this period. This represents a sharp 56.8% increase compared to N5.69 trillion in the same period of 2023, according to the Central Bank of Nigeria (CBN). The surge in … Read more

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