Nigeria’s borrowing from China triples to $4bn under Buhari
Nigeria’s debt to China has grown by 209 percent in the last eight years amid rising poverty across states, according to an analysis of data by BusinessDay.
Poverty has risen in the…
Browsing Tag
Debt
Buhari’s Legacy: Nigeria empties treasury servicing debt as fiscal woes worsen
Nigeria spent nearly all the revenues it earned last year servicing its debts, the World Bank said in a new report.
Debt service as a proportion of government income increased to 96% in…
World bank outlines sustainable actions for debt distressed countries
The World Bank Group President, David Malpass has outlined three principles for meaningful restructuring for debt distressed countries.
He said in a blog post titled ‘The April 2023…
Poorest countries find finances under pressure from higher rates
Debt burdens as a proportion of government revenues at highest level since 1998, research shows Low-income countries will face their biggest bills for servicing foreign debts in a quarter of…
Lagos, four others owe 34% of states’ ₦5.34trn domestic debt
Five states account for more than a third of the total domestic debt owed by the subnational governments in the country.
The states are Lagos, Delta, Ogun, Akwa Ibom, and Imo.…