Nigeria’s debt to balloon beyond N49trn on conversion of CBN N10trn borrowing

February 17, 2021

Finding a Way Out of Nigeria’s High Debt Costs

Public debt stock was N35.465 trillion or 21.92% Gross Domestic Product (GDP) at the end June 2021

Nigeria has set the terms for the conversion of its stock of central bank overdrafts into long-term notes. The conversion will add to Nigeria’s debt stock, which stood at 49 trillion naira at the end of last year, according to IMF estimates. The plan to convert the ways and means borrowing i

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