Page Nav


Breaking News:


Ads Place

Ads Place

Nigeria’s debt servicing to gulp 123% of 2023 revenue – World Bank Economist


The World Bank has revealed that Nigeria’s projected debt servicing for 2023 would gulp 123.4 per cent of the country’s revenue in the same year.

We learnt this in a presentation made by the new World Bank Lead Economist for Nigeria, Alex Sienaert, last month.

The presentation, ‘Nigeria Public Finance Review: Fiscal Adjustment for better and Sustainable Development Results’, disclosed that borrowing more money is not a solution for the most populous African country.

The document reads, “Debt servicing has surged over the past decade and is expected to continue increasing over the medium-term, crowding out productive spending”.

We reported that Nigeria’s public debt rose to N44.06 trillion in the 3rd Quarter of 2022, according to the Debt Management Office’s recent data.

Do you have any information or event for ABUJAPRESS to publish or cover? Kindly Call us on +2349075556668 or send us message on Whatsapp number +2349075556668 or send us an email [email protected]

No comments