Browsing: Nigerian debt profile

In 2020, one of the reputable national newspapers in Nigeria in its editorial comment among other observations noted that Nigeria would be facing another round of fiscal headwinds this year with the mix of $83 billion debt; rising recurrent expenditure; increased cost of debt servicing; sustained fall in revenue; and about $22 billion debt plan waiting for legislative approval.

The Debt Management Office, DMO, has advised the Nigerian government to focus on increasing revenue generation rather than additional borrowing, adding that 73.5 percent of revenue generated this year will be used to service debt.