Tag
NIGERIA'S DEBT PROFILE
As Nigerians brace up for what is widely termed "next level" in line with the ruling party's slogan, the focus will be on the performance of the economy; particularly government finance.
The Federal Government, rising from its Federal Executive Council meeting on Wednesday, concluded plans to take a fresh $1 billion foreign loan facility aimed at bankrolling the Gurara II Hydropower project.
Nigeria's Minister of Finance, Zainab Ahmed, said the country's debt portfolio is sustainable even though it currently stands at a whooping N24.3 trillion.
Nigeria's total external and domestic debts rose to N24.387 trillion in 2018. It has been revealed that the total Public Debt grew by 12.25%.
Nigeria’s total debt stock as at the end of June 2018 (36 States and Federal Government debt) stood at $73.21 billion.
Nigeria’s plan to shift more of its borrowing overseas may improve its lackluster recovery from recession. But it’s...