Debt Archives - JKCYNO BLOG

Nigeria sinking into another debt trap

Nigeria is sinking deeper into another debt trap. This is after the country’s debt-to-GDP ratio recently crossed the 50 per cent threshold for the first time since 1991. The Bola Ahmed Tinubu administration inherited a debt-to-GDP ratio of 38 per cent. But fresh borrowings, securitisation of the Ways and Means advances, a failure to tackle

The cost of servicing debt surpassed the federal government’s retained revenue by N310 billion in the first four months of 2022. The federal government said this in its 2022 fiscal performance for the first quarter released on Thursday. According to the document, the federal government’s total revenue for the period was N1.63 trillion, while debt