• Nigeria’s $64bn debt overhang raises fresh concerns

    Nigeria’s $64bn debt overhang raises fresh concerns

    Ten years after Nigeria exited the London and Paris Club debts through debt buyback that reduced its obligations from $35 billion to $5 billion in 2006,  the country is again in the throes of  a deeper debt mess.

    Latest official statistics have it that in just ten years, 2006 – 2016, the nation’s borrowing and outstanding interest have exceeded its London and Paris debt levels and now threatening to compound its economic recovery efforts.

    This comes amidst Monday’s warning by Fitch Rating […]