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NIGERIA'S DEBT CRISIS
He also urged the new administration to cut expenditures and undertake reforms that would scale down governance costs.
As the country’s external reserve faces more pressure, foreign investors have been held down in Nigeria’s debt market.
Nigeria’s external debt hits a 16 year high of $27 billion in December 2019 just higher than the $20.8 billion in external debt level as at 2005.
Nigeria's Budget Minister, Mr Udoma U. Udoma, has claimed that the country has a sustainable debt portfolio and could borrow more money if it so wishes.
Nigeria's debt increased by ₦9.61 trillion between mid-2015 and end of 2017, The Debt Management Office has said. In a...