Naira depreciation adds N9tn to foreign debt burden

…as local currency weakens by 53%, external debt rises by 288%

•Nigeria needs strong, productive economy, say economists

The value of naira to dollar fell from N196.92 in June 2015 to N414.72 in June 2022, worsening Nigeria’s foreign debt burden.

Within the seven years under review, the naira depreciated by 52.52 per cent against the US dollar.

PUNCH : Read More