Latest data obtained from the CBN reveals that Nigeria paid a whopping sum of $4.45 billion as external debt service/payment in the first two months of 2020.
Developing countries struggling with the spread of Coronavirus will receive financial support from the World Bank to battle the virus.
Based on the December 2019 World Bank price index for crude palm oil at US$769.93, Nigeria lost N90.1 billion to importation of what it could produce last year.
The World Bank in its latest report has downgraded Nigeria's growth prediction for 2019 to 2.1% as against the earlier growth forecast of 2.2%. The disclosure was made in the June 2019 edition of the World Bank's Global Economic Flagship Report.
The World Bank has reported that Nigeria, Kenya, Côte d’Ivoire, and other sub-Saharan African countries raised over $17 billion from bond issuances in 2018.
