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DEBT CRISIS
The Federal Budget Office has advised Nigeria’s government to suspend salary increases for government agencies and eliminate the fuel subsidy to avert a debt crisis.
The Chinese have always done their lending on the idea that individual projects contribute to structural transformation and economic development.
According to data from the Central Bank of Nigeria (CBN), about a third of loans by Nigerian banks were given to oil firms.
The vultures of finance at the center point of the COVID-19 pandemic causing significant economic damage around the world.
Emerging market economies could begin defaulting on their bonds in the coming weeks,this is due to the COVID-19 pandemic.
Ten states in Nigeria have accumulated biggest debt profiles above N100 billion each. Collectively, these highly indebted states owe both external and domestic debt to the tune of N2.74 trillion.
After months of eager anticipation, hopes were not entirely dashed after President Muhammadu Buhari has finally approved the immediate implementation of N30,000 new minimum wage to lowest cadre workers.
While Nigeria’s debt profile hits a new high of N24.9 trillion in March 2019, state governors have parted with the sum of N33.9 billion referred to as external debt deductions in just one year.
The impact of government's debt size on a country's growth has been widely debated and this has generated rows among economists and policymakers.
If you have been observer of the Nigerian economy in the past few years you must have read...